Commodity Market Report
Europe gas and power markets short-term outlook Q3 2019
Report summary
Concerns are mounting over Europe's ability to absorb an expected uptick in LNG come October as storage levels have already hit 90% utilisation. 1 January 2020 is capturing the attention as the date for when the current Ukraine transit contract expires. Russia delivered almost 80 bcm of gas via Ukraine in 2018. Nord Stream 2 will be ready in 2020 but the start-up is slipping and the 55-bcma twin pipeline will take time to ramp up. The combination of events to stop Ukraine transit remains extremely unlikely and, consequently, continued transit remains part of our base case. But the market is pricing in a significant risk premium for Q1 2020. Beyond then, low prices will be required to incentivise and entrench required levels of coal-to-gas switching in Europe.
Table of contents
-
Introduction
- European gas fundamentals
-
Gas market balance
- Pipeline flows
Tables and charts
This report includes 7 images and tables including:
- Europe gas supplies (excl. storage)
- Europe monthly storage inventory changes
- Key market data
- Russia gas flows to Europe
- Norway gas flows to Europe
- Algeria gas flows to Europe
- Gas prices
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Europe gas and power markets short-term outlook Q1 2024
TTF gas prices back to pre-crisis levels
$5,000
Insight
China gas and power in brief
Live updates and insight into China gas and power markets.
$950
Commodity Market Report
Southern Cone gas and power short-term outlook: April 2024
Monthly report analysing the gas and power fundamentals and prices in Argentina, Brazil, Chile and Bolivia until December 2025.
$2,000