European gas demand rose last week, especially across Eastern Europe, but it remained below seasonal average values, as it has now for almost a month.
In fact, as markets continue processing the impact of US tariffs on global energy demand, the expectation of lower demand in Asia has not been the only factor impacting the outlook for gas markets.
For about a month now the projected shortfall in gas supply needed to refill storage targets by the start of November has stopped increasing.
In short, high volumes of LNG sendout and lower demand have steadied the outlook for Europe’s need to attract more LNG compared to the previous year to refill storage during the summer, following three months in which this projected need continued to increase.
Source: Giovanni Bettinelli
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