Dutch #TTF natural gas futures lowest since Sep 2021 down over 12% to €56/MWh
More #LNG cargos heading to Europe
Full stockpiles in China forcing importers to divert Feb & March shipments to Europe
Europe Gas storages 82% full
Gas storages across Europe up from 50% a year ago and well above the five-year seasonal norm of 70% as an unusually mild winter helped to lower heating demand and record LNG imports and a rise in renewable capacity boosted supplies.
Europe was the largest customer in the global liquefied natural gas market in 2022, with the EU accounting for 24% of global LNG imports.
Although the worst seems to be over for now, the outlook for 2023 remains challenging as a cold snap could raise heating demand.