Gas
European gas prices remain near 2022 highs on constrained supply
European natural gas costs stay elevated as low Qatari liquefied natural gas shipments and depleted storage levels compound winter supply worries.
Key points
- Dutch TTF front-month gas prices reached 86.03 euros per megawatt-hour.
- EU storage facilities stood at 74 percent capacity as of mid-October.
- Persian Gulf liquefied natural gas shipments remain significantly lower than previous years.
Supply pressures
According to OilPrice.com reporting, European natural gas benchmarks continue trading near peaks not seen since late 2022. The Dutch Title Transfer Facility front-month contract traded at 86.03 euros per megawatt-hour following a minor dip influenced by lower crude oil futures.
Storage concerns
Gas Infrastructure Europe figures show that regional storage sites reached only 74 percent capacity by October 14. This metric falls considerably short of the typical 86 percent five-year average for the corresponding period, leaving the bloc with reduced buffers ahead of colder weather.
Market outlook
Analysts note that Middle Eastern liquefied natural gas volumes have failed to rebound comparably to petroleum flows. Deliveries from the region sit approximately 80 percent below last year's figures, with expectations that Persian Gulf cargoes could stay constrained throughout the winter season, forcing Europe and Asia to compete for available spot supplies.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Gas is the flexible backbone of many grids and the designated transition fuel in many national plans, from LNG trade to domestic LPG and CNG. Supply security and pricing drive both power reliability and emissions.
21.9% of electricity in the world came from gas in 2024Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
