European LNG imports have fallen well below the seasonal range seen in recent years, tightening the market as stronger gas demand for power generation coincides with lower storage levels and increased competition for LNG cargoes.
Europe is still waiting for the rebound in LNG imports. And the market is starting to feel it. TTF July 2026 jumped +4.37% yesterday to €42.57/MWh, supported by stronger gas demand for power as wind generation dropped.
But the bigger story is structural.
European LNG imports in 2026 have fallen sharply below the 2022–2025 range at this time of year.
Two reasons:
Asian prices keep a premium, pulling cargoes east. The U.S. Golden Pass LNG plant (24.8 Bcm/year once online) has taken in almost no gas over the past three days.
Meanwhile, EU storage sits well below last year’s level. And every missed cargo makes the refill more expensive.
The summer storage race isn’t just about price. It’s about availability. European daily LNG imports are rolling 30 days lower.
How do you see European LNG flows evolving over the next 2–3 months?
Source: Marc Bindou, LinkedIn
