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Volatile EU Gas Market Until 2027: Eurogas

NATGAS

EU gas market volatility is expected to persist at least until 2026-27, according to Cristian Signoretto, president of Eurogas, cited by Montel.

  • Competition for LNG supplies between Europe and Asia and ongoing geopolitical uncertainties are likely to keep gas prices volatile with added risks from possible scenarios such as the current hurricane season.
  • Longer term stability could stem from new LNG sources and continued investments in infrastructure and diversification as well as reducing gas consumption, he said.
  • “Around 2026-2027, new LNG reserves, particularly from Qatar and the US, will enter the market. We expect a more balanced market with less volatile price developments,” he said. By 2027, prices could “relax” and potentially return to pre 2022 levels.
  • Gas prices are expected around €30-35/MWh in the second half of 2024 with the market still tight in 2025, he said.
  • The degree of cold weather this winter and the expiry the Russian gas transit contract through Ukraine at the end of the year are added risks.
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