European natural gas prices surge amid supply concerns
2025.01.23 05:41
Investing.com — European prices have seen an increase of over 3%, with the Dutch TTF contract, a benchmark in the industry, trading at 50.30 euros per megawatt-hour.
The rise in prices is primarily due to a disruption at the Freeport LNG facility in the U.S. and the announcement that Germany may provide subsidies for storage refills during the summer. This move by Germany aims to ensure the country meets its target storage levels.
In the European Union, gas storage levels have dipped below 60%, which has led to an increased demand for LNG. The prices for gas in Europe during the summer period are higher than those projected for the upcoming winter.
This price dynamic poses a threat to the refilling of storage sites and raises the risk of potential shortages across the continent.
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