European power prices ease as gas markets weaken
December 16, 2025
Europe has swapped Russian pipeline risk for higher LNG exposure—especially to the US—in the short run, but a declining demand path and incoming global LNG supply should reduce medium-term dependence and price pressure if diversification to Norway/North Africa/Azerbaijan holds. BNP Paribas argues Europe’s vulnerability has eased since 2022 as Russian gas fell from ~50% of imports pre-war to 13% in […]
