Commodity Market Report
Europe gas and power markets short-term outlook Q3 2020
Report summary
The very worst of the oversupply appears to be behind the global gas and LNG market. US LNG has provided a much needed safety valve, allowing prices to recover. But European and US prices will move in parallel for at least the next 12 months. Challenges for Gazprom continue to mount as it faces further delays on Nord Stream 2 as its contracted ship-or-pay levels with Ukraine fall. Gazprom's options to regain market share without Nord Stream 2 appear limited, offering market space to others and reducing the risks on US LNG curtailments in 2021.
Table of contents
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European gas prices recover but remain grounded for another year
- NEW: Northwest Europe LNG DES price forecast
- NEW: Country level storage inventory forecasts
- 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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