Energy efficiency and natural gas consumption
Part of the research work evaluated the relationship between energy efficiency, consumption of the natural gas, and economic development in the European Union.
The data include 26 Member States of the Eurozone from 1997 to 2011. A multivariate model, which originates the neoclassical growth model, has been built and amended to include gross fixed capital and total labour as explanatory variables.
Is there a long-term and two-way causality between economic growth and natural gas consumption?
The relationship between economic development and the consumption of the natural gas is positive, as the results show.
Yet, the relationship between the consumption of the natural gas and economic development appears to be negative.
These findings are relevant for formulating the EU policy framework that targets the increase of energy efficiency.
Balitskiy, S., Bilan, Y., Strielkowski, W., Štreimikienė, D. (2016). "Energy efficiency and natural gas consumption in the context of economic development in the European Union." Renewable and Sustainable Energy Reviews, 55, 156-168.