Determinants of Natural Gas Consumption in Europe: An Empirical Analysis

Natural gas consumption is a significant issue in European countries due to the Russia-Ukraine war crisis. very important both for household and commercial purposes. The primary objective of this study investigate relationship between natural its determinants. Panel data collected from Eurostat World Bank publications, consisting five spanning 2009 2022, were used study. analysis, like panel unit root test, shows that variables are integrated into order 1. This indicates estimators sufficient since stationary. Johansen Fisher's cointegration test there long-run association Hausman specified random effect regression model run analysis paper, further reveals prices have negative impact on consumption, which suggests reduces with an increase price. current situation now following Russian-Ukraine war. Besides, correlation was applied demand. Following outcome research it will be United Nations Union swiftly apply drastic lasting solution approach prevent untold damages could cause economy Countries.