Impact of COVID-19 on Natural Gas - Pandemic Will Accelerate the Move Towards Low Carbon Sources of Energy, Which Could Affect Future Demand

Natural gas has been less severely impacted than oil and coal but has still seen a decline in demand during the COVID-19 crisis.
US natural gas demand declined an estimated 4.5% year over year in Q1.
Demand for natural gas was already lower than usual before the COVID-19 outbreak because an unusually mild winter had reduced the demand for natural gas for home heating.
Analysts also predict that the pandemic will accelerate the move towards low carbon sources of energy such as low carbon sources of electricity including nuclear, hydropower, wind and solar power which could affect future demand for natural gas.

DUBLIN, July 10, 2020 /PRNewswire/ -- ResearchAndMarkets.com published a new article on the natural gas industry "Natural Gas Affected by Lower Electricity Demand Arising Business Closures due to COVID-19"

Natural gas has been less severely impacted than oil and coal but has still seen a decline in demand during the COVID-19 crisis. US natural gas demand declined an estimated 4.5% year over year in Q1. This is due to a steep decline in commercial and industrial usage as a result of business closures. Demand for natural gas was already lower than usual before the COVID-19 outbreak because an unusually mild winter had reduced the demand for natural gas for home heating.

Lockdown measures have changed patterns of electricity consumption resulting in a significant decline in overall electricity demand. Analysts also predict that the pandemic will accelerate the move towards low carbon sources of energy such as low carbon sources of electricity including nuclear, hydropower, wind and solar power which could affect future demand for natural gas.

To see the full article and a list of related reports on the market, visit "Natural Gas Affected by Lower Electricity Demand Arising Business Closures due to COVID-19"

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SOURCE Research and Markets