European gas storage levels dropped below 30% of their working capacity, standing 35% below their 5y average and at their lowest level since the 2022 gas crisis. European gas storage draws totalled near 55 bcm since the beginning of November, up by 17% compared to their 5y average, amid colder weather and stronger gas burn […]
Gas and power correlation weakened significantly during the 2025/26 heating season, raising questions about whether the shift is structural or temporary. The correlation between TTF and power prices weakened significantly through this heating season, falling below the 50% threshold. But is this really a structural change or just a temporary hiccup? TTF and German power […]
Barents Sea gas could play a larger role in Europe’s supply mix in the 2030s if the European Union adjusts its Arctic policy framework, according to Rystad Energy analysis. A rethink of the European Union’s Arctic policy could determine whether Norway’s Barents Sea becomes a meaningful source of pipeline gas for Europe in the 2030s […]
TTF gas prices have strengthened in recent weeks, with a renewed premium over Asian LNG benchmarks driven by low European storage levels. According to Timera Energy, this widening TTF premium is now lifting European LNG regasification margins back into positive territory for many continental terminals. TTF gas prices have regained a clear premium over Asian […]
European carbon prices fell by 25% since mid-January to below €70 amid growing competitiveness concerns from European leaders. EU carbon prices were on a bullish trend since last summer, rising by around 30%. This strong growth was driven by expectations of tightening market fundamentals: (1) more allowances placed into the Market Stability Reserve; (2) phase-out […]
European gas exports to Ukraine have remained relatively constant throughout the winter, at a rate oscillating between 0.7 and 0.8 Bcm per month since the start of October. Flows showed a small decline in the second half of January, driven primarily by a reduction in exports from Poland and Slovakia. Total exported volumes have, however, […]
European gas market integration will become increasingly critical as the EU moves to phase out Russian gas imports and reconfigure flows across Central and Southeast Europe, according to Greg Molnar. The EU’s ban on Russian gas imports is set to kick in at the end of April, with imports fully phased out by Nov 27 […]
European gas demand has rebounded more than 10% above seasonal expectations, tightening short-term market fundamentals as exports to Ukraine recover and year-on-year consumption gains exceed 5 bcm. European apparent demand returned over 10% above seasonal expectations last week. The total year-on-year increase in consumption has now crossed 5 Bcm. Last week also saw a recovery […]
European gas storage has fallen sharply since the start of the heating season, with the growing deficit likely to drive record LNG imports and intense summer refilling in 2026. The EU’s 5Y storage deficit doubled since the start of the heating season to 16 bcm, with inventory levels now standing 30% below their 5Y average. […]