EU’s Gas Import Mix: Tough Winter in Europe as Gazprom Exports Increased 8.2% YoY!

Growing Concerns Over Supply Risks Pushed November’s TTF Prices Up by 19% (With 6 Charts)

The TTF, the European benchmark for gas prices, increased by 18.9% to $14.8 per mmbtu by the end of November. Gas storage declined to 85.6% on November 30, 10% than storage in the same month last year. However, it remained within the average of the last three years as shown in Figure (1). Gazprom’s decision on November 16 to halt gas shipments to Austria’s OMV and the higher demand for gas in power generation caused the decline in storage and the subsequent increase in gas prices.