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8 Pages

European gas and power short term price outlook (Q2 2015)

European gas and power short term price outlook (Q2 2015)

Report summary

European spot pricing dynamics will be driven by players' optimisation of Russian contract off-take and storage within "contestable demand". We forecast year-on-year demand growth, driven by a return to normal weather, higher exports to Ukraine and lower Dutch production

We forecast a tightening LNG market over 2015, with lower European imports. But low contract price levels will prevent spot price upside during winter, and prices will trade at the high end of coal-gas switching levels.  

What's included?

This report includes 2 file(s)

  • European gas and power short term price outlook (Q2 2015) PDF - 406.95 KB 8 Pages, 0 Tables, 8 Figures
  • European gas and power short term price outlook.xls XLS - 281.50 KB


This Gas Markets Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues surrounding this topic, this report gives you an expert point of view to help inform your decision making.

We provide 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
  • European spot gas price (NBP) outlook
  • Gas fundamentals
    • LNG imports (included in analysis)
    • Other LNG imports (excluded from analysis)
    • Indigenous production including Norway
    • Non-Russia pipe imports
    • European demand
    • Ukraine call on gas through Europe
    • UK power pricing and spreads
    • Higher emissions prices balance the costs of coal and gas

In this report there are 8 tables or charts, including:

  • Executive Summary
  • Introduction
  • European spot gas price (NBP) outlook
    • Chart 1: Russian (RU) imports and storage
    • Chart 2: NBP spot vs Russian (RU) contract
  • Gas fundamentals
    • Chart 3: Identified European region
    • Chart 4: European net LNG imports
    • Chart 5: Contestable demand: European demand* vs indigenous production and non-Russian imports
    • European gas and power short term price outlook (Q2 2015): Image 6
    • Chart 7: UK base load power prices (GB market)
    • Chart 8: Clean spark and dark spreads – including Carbon Price Support (CPS) costs
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