Commodity Market Report
Europe gas and power markets short-term outlook Q4 2020
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. The TTF forward curve is representative of market fundamentals this winter but summer prices must drop in order to incentivise discretionary fill of European and Ukraine storage; and to deliver sufficient levels of coal-to-gas switching.
Table of contents
- Global LNG market tightening rebalances Europe – at least until next summer
- The main report is in a slidepack format with an enhanced data pack download covering the full European gas balance
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