To a 17-month low and almost 85% below the peak of August last year, the price natural gas in Europe, showing that market pressure has eased.

March TTF futures, which are the “barometer” of natural gas prices in Europe, are falling to about 49.8 euros per megawatt hour, while last summer, after Russia reduced flows to the block, they reached 340 euros.

Combined with mild weather, efforts to reduce energy consumption, and large LNG imports from the US and Qatar, the market has declined significantly.

How will he move?

However, it is likely that prices will continue to remain at these levels. Since the need for block heating will soon decrease, natural gas, due to its low price, may attract interest in the production of electricity from other sources, such as coal.

At the same time, demand is recovering in the wider East Asian region, and prices could rise again if there is a wave of bad weather or supply problems before the end of winter.

European natural gas inventories are currently at a high level, easing concerns about meeting demand this year and next winter. With flows from Russia blocked by almost 100%, Europe seems to have adjusted to the new situation.