Monthly Outlook Apr-25
Despite strong LNG demand in Europe, gas prices eased due to weak Asian LNG intake. Favorable renewable output also helped lower power prices. Geopolitical turmoil remains an upside risk, ahead of the storage injection season approaching.
by Monthly Outlook Mar-25
Europe drives global LNG demand growth, outpricing Asia in 2025 to attract supplies to rebuild storage and to offset Russian piped gas. Price pressure persists, especially in winter, due to slower global liquefaction capacity growth until 2026.
Monthly Outlook Feb-25
High gas storage withdrawals across Europe disrupted the gas market's fragile balance, with reserve levels nearing the imposed targets. With ongoing tensions for the 2025 injection season, short-term price forecasts have been adjusted upward.
Monthly Outlook Jan-25
The conclusion of the gas transit deal between Ukraine and Russia marks the end of an era for Europe. The prompt expansion of new liquefaction facilities is essential to meet rising European LNG demand and lay the ground for price decrease.
Monthly Outlook Dec-24
Conditions for both European gas and power markets stabilization are unlikely to be met by 2025. As the end of Russian gas approaches, timely development of liquefaction capacity will be key for the long-awaited price normalization from 2026.
Monthly Outlook Nov-24
Global gas market tensions will remain high in 2025, impacting electricity prices despite favorable renewable production. Exit tariffs on Italian borders limit the potential for gas exports to Central and Eastern European countries.
Monthly Outlook Oct-24
Escalating geopolitical tensions prevent gas and power prices from moving lower despite weak fundamentals. The timely regasification capacity development in Europe is crucial to address the anticipated halt of Russian flows via Ukraine in 2025.
Monthly Outlook Aug-24
Unplanned LNG outages and geopolitical uncertainties limit the downside for gas and power prices in the short term. The timely commissioning of new liquefaction capacity is crucial for maintaining market stability, particularly during winters.
Monthly Outlook Jul-24
Before new US and Qatar plants come online, the demand-supply margin is not enough to dismiss the risk of renewed global LNG tensions. Despite record RES, ample imports, and subdued demand, a rebound in gas and power prices cannot be ruled out.
Monthly Outlook Jun-24
Despite a weakening of the electricity market fundamentals, chances for prices to move lower are limited, in wake of logistic costs highly uncertain dynamics and risks for the gas market relating to the global LNG demand-supply close margins.