Gas demand from all customers of French utility giant Engie has dropped in recent weeks amid surging natural gas prices in Europe as Russia slashed deliveries, the French company said on Friday. “Gas demand has declined among our customers, whether its households, small businesses or large manufacturers,” Engie’s chief executive Catherine MacGregor said on an earnings call today, as carried by Bloomberg . The drop in demand is part due to gas and energy conservation, utilities and industries switching to other fuels, and the “price signal,” MacGregor said. Gas prices in Europe resumed rallying in June after Russia cut supply via Nord Stream to 40% of capacity. This week, prices soared again after Russia said that gas supply via Nord Stream would be cut to just 20% of the pipeline’s capacity , days after Gazprom restarted the pipeline at 40% capacity after regular 10-day maintenance. The Russian explanation for […]