Commodity market report
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8 Pages

European gas and power markets short-term outlook Q1 2016

European gas and power markets short-term outlook Q1 2016

Report summary

Declining oil prices have prompted players to offtake Russian gas above ToP obligations. Northwest European spot gas prices have fallen to US$4/mmbtu, a level conducive to coal to gas switching in European power markets. Higher LNG imports in 2016 will reduce Europe's requirement for Russian gas. However, with oil-indexed prices below US$4/mmbtu, European players will continue to maximise Russian offtake, providing downside risk to prices

This report includes an outlook for European gas balances and forecast UK gas and power prices out to Q1 2017.

What's included?

This report includes 2 file(s)

  • European gas and power markets short-term outlook Q1 2016 PDF - 331.94 KB 8 Pages, 1 Tables, 8 Figures
  • European gas and power short term price outlook Q1 2016.xls XLS - 421.00 KB


Volatility in oil markets and the growth of unconventional gas supply have created a high degree of uncertainty about future gas demand and the direction of gas prices.

This Gas Markets Short Term Outlook report forecasts future pricing, based on deep analysis of gas supply and demand fundamentals. Additionally, it addresses complex questions on gas flows, identifies future opportunities and informs fuel purchasing strategies.

Participants and investors can use this short term outlook report to understand gas markets and assess the impact of global gas dynamics and key market drivers.

Wood Mackenzie provides detailed supply, demand and price forecasts based on our integrated upstream, power, coal and LNG research. Our regional gas experts are based in the markets they analyse, providing comprehensive analyses of regional and global gas markets.

If you want to understand complex gas market dynamics and plan for the future, Wood Mackenzie is the premier resource to help you gain a clear, competitive advantage.

  • Executive summary
    • Introduction
  • Supply-demand balances
    • Gas fundamentals
      • Gas demand
      • Gas supply
      • Flexible supply
  • Prices
    • European gas prices (NBP)
    • European power prices
      • UK gas generators pull clear of coal
      • Further pressure on coal-fired power in Germany

In this report there are 9 tables or charts, including:

  • Executive summary
  • Supply-demand balances
    • Key markets data
    • Storage inventories*
    • Russian imports
  • Prices
    • Gas prices
    • Gas demand response* - coal to gas switching
    • UK base load power prices
    • UK clean spark spreads (CPS emissions costs)
    • Base load power price - Germany and UK
    • German clean spark spreads (ETS emissions costs)
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