Insight
European gas price outlook: 12 months ahead (Q1 2015)
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Report summary
Spot prices are expected to remain sustained at US$8/mmbtu throughout Q1 - following a period of maximised storage withdrawals more Russian gas will be required towards the end of Q1. High storage injection requirement through the summer will result in a growing call on Russian gas, including spot volumes, sustaining prices at US$7/mmbtu, consistent with the coal to gas switching cost in the UK. In Q4, cheaper Russian contract gas will result in European spot prices falling below US$7/mmbtu.
Table of contents
- Executive summary
-
Introduction
-
Gas supply Q1 2015 - Q4 2015
- LNG imports - rest of Europe (included in analysis)
- LNG imports - Southern Europe (NOT included in analysis)
- Indigenous gas including Norway
- Non-Russia pipe imports
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Gas demand Q1 2015 - Q4 2015
- European demand
- Ukraine call on gas through Europe
- Europe spot price outlook
-
Gas supply Q1 2015 - Q4 2015
Tables and charts
This report includes 4 images and tables including:
- Chart 1 - European net LNG imports
- Chart 2 – Contestable demand: European demand* vs indigenous production and non Russian imports
- Chart 3 - Russian imports and storage*
- Chart 4 - European spot (NBP) vs Russia contract
What's included
This report contains:
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