18.07.202515:32:51UTC+00TTF Prices Fall to 2-Week Low

European natural gas futures experienced a decline of over 5%, falling to below €34 per megawatt-hour this week. This reduction is attributed to increased supply from Norway, expectations of higher wind power generation in Germany, and a decrease in Asian demand. Norwegian exports rebounded to 317 million cubic meters per day following the resolution of significant outages at Nyhamna and Kollsnes, thereby enhancing supply availability. In Germany, the anticipated rise in wind power output next week is expected to lessen reliance on gas for electricity generation. Previously, a heatwave in Northeast Asia had spurred a surge in LNG demand, momentarily diverting shipments away from Europe. However, indications of cooler weather and steadier imports, particularly in Japan, South Korea, and China, have begun to alleviate pressures on the global gas market. Additionally, the European Union’s more adaptable winter gas storage regulations, which permit countries to achieve the 90% storage target by December, have contributed to reducing competition with Asia.