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European gas winter outlook: Gas storage fill-level scenarios, Argus page 3

European gas winter outlook highlights LNG supply risks and record-low storage

The European gas winter outlook for 2026/27 points to a challenging heating season, with historically low storage inventories, prolonged disruption to Middle Eastern LNG supplies and limited opportunities to increase pipeline imports. EU gas storage stood at approximately 70% capacity on 22 September, some 159 TWh below the three-year average. Under a scenario involving rapid winter withdrawals, inventories could fall […]

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European gas price outlook: Modelled March 2027 TTF price versus storage, Timera Chart 4

European gas price outlook warns of heightened winter volatility

The European gas price outlook for winter 2026/27 points to heightened volatility as low storage inventories and continued disruption to Middle Eastern LNG supplies leave the market exposed to further price increases, particularly towards the end of winter. Europe enters the heating season with nearly 13 bcm less gas in storage than a year earlier, while global LNG supply could […]

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European gas price forecast: Global LNG supply and demand outlook, Rystad Energy slide 6

European gas price forecast revised higher amid LNG supply disruptions

The European gas price forecast for 2026 has been revised upwards as continued disruption to Middle Eastern LNG exports tightens global supply and increases uncertainty ahead of winter. Despite improving pipeline flows and storage injections, European gas markets remain exposed to geopolitical risks and competition for available LNG cargoes. The 2026 TTF price forecast has increased by $1 per MMBtu […]

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European gas storage: European daily average winter demand, ENTSOG Figure 1

European gas storage faces a challenging winter as LNG supply risks persist

European gas storage entered winter 2026/27 at just 72% capacity, compared with 83% a year earlier, leaving Europe more exposed to cold weather, constrained LNG availability and potential supply disruptions. ENTSOG’s Winter Supply Outlook 2026/27 finds that Europe’s gas infrastructure remains sufficiently flexible to meet demand under normal winter conditions, but maintaining adequate LNG imports will be critical. Under its […]

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EUROPEAN GAS INSIGHTS
UPCOMING EVENTS