Spain's industrial gas demand recovered in Q3

10/24/2023

(Reuters) - Demand for gas from Spain's industry increased by more than 25% in the third quarter from a year earlier, boosted by companies in the refining, chemical and pharmaceutical sectors, gas grid operator Enagas said on Tuesday.

The "strong recovery" in the quarter "has broken the trend of the first six months of the year", the company said as it released its quarterly results.

Gas prices soared following Russia's invasion of Ukraine and Moscow's move to cut its gas supply to Europe, leading the region and its industry to slash demand.

Industrial demand was 40.5 terawatt-hour (TWh) in the three months through September 30, up from 32.3 TWh a year earlier, Enagas said.