Commodity Market Report

Europe gas and power markets short-term outlook Q1 2021

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26 February 2021

Europe gas and power markets short-term outlook Q1 2021

Report summary

The price recovery which began in August has held, putting the very worst of the oversupply behind the global gas and LNG market. LNG supply reductions and a strong rebound from Asian buyers have supported recovery, but the price sensitive power sector limits European gas demand. Summer prices will need to drop below the forward curve to incentivise additional coal-to-gas switching - required to absorb LNG. But thanks to significant rises in coal and carbon prices, TTF will hold through the summer.

Table of contents

  • Global LNG market tightening rebalances Europe – at least until summer
  • The main report is in a slidepack format with an enhanced data pack download covering the full European gas balance

Tables and charts

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What's included

This report contains:

  • Document

    Europe Gas And Power Short Term Outlook Q1 2021

    XLSX 2.90 MB

  • Document

    Europe Gas And Power Markets Short Term Q1 2021

    PDF 2.46 MB