Europe Enters Winter With Its Lowest Gas Inventory of the 2020s

AI Summary

Europe is entering winter with gas storage at its lowest level of the 2020s, while Asian spot LNG prices are above $30 per million British thermal units. Rystad Energy expects uncertainty in both directions and advises buyers to plan for a range of price outcomes.

Asian spot LNG is trading above $30 per million British thermal units and Europe is entering winter with its lowest gas inventory of the 2020s, yet Rystad Energy stops short of predicting a further rally. In its winter LNG outlook, published this week, the consultancy lays out as many ways for prices to fall as to rise and tells buyers to plan for a wide range of outcomes instead of one base case. EU storage sites were 71.6% full in Gas Infrastructure Europe’s Nov. 11 update, with Germany at 58%, and that is well under the five-year average…