01.09.202509:46:30UTC+00European Gas Halts 4-Day Slip

On Monday, European natural gas prices edged up to €31.9 per MWh, ending a streak of four successive declines. This adjustment comes amid reduced power output from renewable sources, with markets evaluating the gas supply outlook as the European heating season approaches. In northwestern Europe, gas demand exceeded 100 gigawatt hours per day, driven by milder temperatures and a dip in renewable power production, largely due to diminished wind power generation. Concerns are mounting ahead of liquefied natural gas (LNG) deliveries from Russia's Arctic LNG 2 facility. Potential objections from the United States regarding its entry into Europe may jeopardize future supplies from this source. Recent data highlights a more than 50% increase in LNG imports since the beginning of the year, underscoring Europe's aggressive search for alternative sources following disruptions in Russian gas flows. Meanwhile, gas storage facilities across the continent are over 77% full, maintaining momentum toward the bloc's goal of reaching an 80% capacity by early November.