Commodity Market Report

Europe gas and power markets short-term outlook Q4 2019

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29 November 2019

Europe gas and power markets short-term outlook Q4 2019

Report summary

European gas prices have been on a downward trajectory since October 2018 – with TTF hitting an all-time monthly low of US$3.1/mmbtu in September 2019. Assuming no disruption to Ukraine transit, the prospects for price upside over the next two years are extremely limited. Europe held a record 101 bcm of gas in storage at the end of October, more than 98% full. Market uncertainty on Ukraine transit from 1 January 2020 remained the main driver in supporting injections. LNG flows available to Europe will be accommodated in 2020 and 2021 but prices – and piped suppliers – will suffer. Further LNG import growth will push prices down as low as $3.3/mmbtu in summer 2020.

Table of contents

Tables and charts

This report includes 7 images and tables including:

  • Gas prices
  • Key market data
  • Europe gas supplies (excl. storage)
  • Europe monthly storage inventory changes
  • Russia gas flows to Europe
  • Norway gas flows to Europe
  • Algeria gas flows to Europe

What's included

This report contains:

  • Document

    Europe gas and power markets short-term outlook Q4 2019.pdf

    PDF 1.46 MB

  • Document

    Europe gas and power markets short-term outlook Q4 2019

    PDF 3.52 MB

  • Document

    Europe gas and power markets short-term outlook Q4 2019

    ZIP 3.45 MB

  • Document

    Europe gas and power short term outlook Q4 2019.xls

    XLS 2.81 MB

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