European Natural Gas Prices Update

European natural-gas prices are currently trading just below 44 euros per megawatt hour, following a notable increase in the previous session due to uncertainties regarding Ukraine’s gas-transit route.

The benchmark Dutch TTF contract has risen by 1.5%, currently trading at 43.73 euros per megawatt hour, with an increase of more than 6% over the past week.

The contract for the flow of Russian fuel through Ukraine is set to expire in less than two weeks, prompting European leaders to seek alternatives to ensure a continuous supply.

Demand for gas in Europe has witnessed substantial growth, resulting in a rapid decrease in gas inventories and a corresponding increase in prices. Additionally, exports of pipeline gas from Norway are showing a downward trend compared to the previous year.

There is a slight rise in LNG imports, although they still fall short of the figures from the past two years.

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