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Existing supplies to meet European gas demand under 2040 emissions target
European gas demand is forecast to decline by 66% from 2023 levels to 117 billion cubic metres (bcm) of gas per year if the EU reduces greenhouse gas emissions by 90% by 2040, as proposed by the European Commission. Existing gas fields in the EU, Norway and Algeria and already agreed long-term contracts are expected to supply the EU with […]
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European gas imports from Russia, Libya and Azerbaijan increase in July
During the month of July, European gas imports from Russia, Azerbaijan and Libya increased. Nevertheless, in recent months, the total volume of PNG imported by the region has remained at a stable level. In July 2024, the EU imported 13.3 bcm of pipeline natural gas (PNG), which was the same level as the volume imported one year ago. However, this […]
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Gazprom transits 1.32 bcm of gas via Ukraine in July
In July, Gazprom transported 1.32 bcm of gas, or 39% of the contracted volume. This is 2% more than in 2023 and 2022, and 66% less compared to the same period in 2021. In July, 231.2 million cm of gas were transported to Ukraine, 14% more than in June. 94% of the resource came from the Hungarian direction, and 6% […]
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EU and Ukrainian natural gas storage
During 2024, the EU has been running natural gas inventories well above the trend of previous years. In contrast, Ukraine has been running natural gas inventories well below the trend of previous years.
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INFRASTRUCTURE
European gas storage sites reach 90% fill levels
EU storage sites just reached 90% fill levels, more than two months ahead of the official target date of 1...
European gas storage back in the 80’s
European gas storage levels hit 80% fill levels on 10 July, with inventories now standing 16% (or 11 bcm) above...
Czechia bucks the trend and increases gas storage
The trends that have dominated the European supply/demand balance in recent weeks appear unchanged. European gas storage injections remain well...
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UPCOMING EVENTS
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GAS PRICES
The European gas price speculation continues
Why is the TTF gas forward curve so overpriced?
TTF gas price rallies despite high European storage levels
RUSSIA
European natural gas supply risks grow
EU to review Russian LNG transhipment ban by June 2025
