EU’s Gas Import Mix: Gazprom Exports to Europe Up 2.9% in October and Trump Election Changes the the Outlook

with 6 charts

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.  

Gazprom’s Exports to Europe