The European gas market is tightening, with European gas storage increasingly acting as the key pressure point through which recent demand and flow dynamics are being absorbed. Below are the key numbers for European gas demand and storage withdrawals since 1 January: European apparent demand has been 2.5 bcm higher than in 2024 and is […]
European gas storage seasonal price spreads dropped into negative territory by the end of last week, paradoxically at a time when the EU is heavily relying on gas storage sites to ensure gas and electricity supply security. Last week’s bull run asymmetrically impacted the forward curve: Summer 2026 contracts gained almost 15%, while the less […]
European gas storage entered 2026 at a notably weaker level than a year earlier, increasing the importance of winter weather and the upcoming injection season for market balance. Storage sites closed 2025 around 61% full, compared with roughly 72% at the same point last year, leaving Europe with a smaller buffer as it moves through […]
TTF gas prices surged sharply as nuclear outages, lingering cold weather and rising carbon prices added fresh momentum to the winter rally. However, the TTF index is still trading around 30% below the January 2025 levels. TTF surged by nearly 8% today (January 12) to over €30/MWh, recording its strongest daily increase since June 2025, […]
European gas demand jumped in early January as colder weather boosted space heating needs and supported higher gas-fired power generation. Europe’s gas demand surged by 20% YoY in the first ten days of Jan 26, as colder weather boosted space heating demand and supported higher gas-fired power generation. Daily European gas demand climbed to over […]
The PSV gas hub reflects Italy’s uniquely complex supply and demand structure, making it one of Europe’s most dynamic gas markets. Among key European gas markets, PSV is the one that stands out. Were there a competition for the title of the most dynamic gas hub, it would be crowned most of times. Bearing in […]
TTF prices dropped below the long-run marginal cost of US LNG last week for the first time since March 2021, with the TTF-Henry Hub spread tightening to just around $4/mmbtu. TTF and Henry Hub faced opposite price pressures over the last year, with TTF prices plummeting by 35% yoy, while Henry surged by more than […]
A historic decision: the European Union reached overnight an agreement on the legally binding phase-out of Russian gas, ending more than five decades of reliance on gas from Russia. The first molecules of Siberian gas reached Western Europe back in 1968, when first gas was delivered to Austria’s Baumgarten. This was followed in 1970 by […]
TTF prices face renewed volatility risks as investment funds turn increasingly bearish on the European gas market, with ING reporting that speculative positioning has flipped from a net long of 15.6 TWh to a net short of 11.4 TWh — the first time funds have been short TTF since March 2024. This shift comes even […]