Insight
2024 Europe Gas Year in Review
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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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