HomeNewsEurope gas: Prices slightly down on healthy Norwegian and LNG supply

Europe gas: Prices slightly down on healthy Norwegian and LNG supply

4/15/2025

Dutch and British gas prices were slightly lower on Tuesday morning amid warm temperatures and strong supply from Norway and liquefied natural gas (LNG), while market players continued to monitor any developments on tariffs and talks to end the war in Ukraine.

The benchmark Dutch front-month contract was down by €0.17 at €34.50 per megawatt hour (MWh), or $11.31/MMBtu, by 0758 GMT, LSEG data showed.

The Dutch June contract was down €0.27 at €34.49/MWh.

The British day-ahead contract was down 1.00 pence at 83.50p/therm.

Flows from Norway have risen by 11 MMm3d and there are no expected maintenance outages impacting volumes until April 25.

There are also eight new LNG vessels on the arrival schedule for north-west Europe, which will allow a solid level of send-out to continue, LSEG analyst Ulrich Weber said in a morning note.

"Weather forecasts are barely changed. On the day-ahead, we expect a demand rise by some 260 gigawatt hours per day (GWh/d), suggesting minor bullishness," he added.

Temperatures are expected to stay up to 4°C–5°C above normal levels for most of the week then become marginally colder next week, LSEG data showed.

Russian Foreign Minister Sergei Lavrov said on Tuesday that it was not easy to agree with the United States on the key parts of a possible peace deal to end the war in Ukraine and that Russia would never again allow itself to depend economically on the West.

Meanwhile, the European Commission will announce on May 6 a more detailed strategy to phase out Russian oil and gas imports next month, after twice delaying the plan.

Europe's gas storage sites ended the winter season almost two-thirds empty and were last recorded at 35.58% full, according to Gas Infrastructure Europe (GIE) data.

In the European carbon market, the benchmark contract was down €1.07 at €65.89 a metric ton.

 

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