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Natural gas prices in Europe fell again, reaching 35.47 euros per megawatt-hour – futures for Dutch gas, which is the benchmark indicator, lost 0.5%, Bloomberg reports.
The reason for this is a marked increase in tanker shipments of LNG (liquefied natural gas), which remain slightly above seasonal averages. This indicates stable supply despite some global disruptions, including geopolitical risks in the Middle East and Russia.
Contango pricing – a situation where futures contracts are more expensive than current prices – may now encourage the accelerated filling of European gas storage facilities. In winter, low inventory levels made storage unprofitable, but now the market is getting a positive signal to fill up.
Why is this important for Ukraine?
Ukraine, which actively imports gas from the European market, benefits from lower prices at hubs, in particular the TTF (Dutch Gas Index). This allows Ukraine to optimise gas imports and build up strategic reserves before the next winter.
