European gas market tightens as demand surges and LNG imports hit record levels

Gas consumption in the EU showing January 2026 demand surge compared with 2024 and 2025

The European gas market tightened sharply in January as colder weather lifted demand, accelerated storage drawdowns and pushed LNG imports to new highs. Rising gas-fired power generation and lower domestic output further increased Europe’s reliance on external supply, reinforcing the region’s exposure to global LNG competition and price volatility. The European gas market strengthened markedly in January, driven by a […]

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