EU’s Gas Import Mix: Gazprom Exports to Europe Up 2.9% in October and Trump Election Changes the the Outlook
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The TTF, the European benchmark for gas prices, increased through October by 1.6%, reaching $12.95 per mmbtu by month-end (compared to $12.74 per mmbtu at the beginning of the month). High levels of gas storage levels, which stood at 95.21% on October 31, prevented prices from rising further. Storage was higher than the three-year average by about 5% as shown in Figure (1).
Meanwhile, the Asian market continues to attract spot LNG cargoes as the price differential (JKM-TTF) favored JKM and averaged to $0.44 per mmbtu, higher than the September average by 6 cents.