Insight
2024 Europe Gas Year in Review
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Supply disruption threats and geopolitical tensions contributed to rising prices throughout 2024. TTF rose from US$9.50/mmbtu at the start of the year to US$13.75/mmbtu by year-end as colder weather and low wind output raised demand requirements. Central and Eastern European markets maintained a premium to TTF due to risks surrounding transit flows through Ukraine. LNG imports into Europe declined compared to 2023, as stronger Norwegian output and Russian flows offset LNG demand.
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