Front-month Dutch gas futures fell below €180/MWh, the lowest in nearly two months, and notched a fourth straight weekly loss, down over 4% weekly drop as ongoing uncertainty about Russian supplies was countered by almost full European natural gas storage sites and governments' plans to curb soaring energy prices. The European Commission plan that includes raising €140 billion from energy companies’ profits, a mandatory cut on energy use, and increasing liquidity now needs to be approved by the EU member states. Further measures to ease volatility and increase trading volume in energy markets are due to be presented next week. Meanwhile, President Putin's announcement of a partial military mobilization in Russia raised further concerns over an escalation of the war in Ukraine. Gazprom has indefinitely shut down gas flows through its critical Nord Stream 1 pipeline and investors worry about the remaining major route through Ukraine.
Historically, EU Natural Gas reached an all time high of 345 in March of 2022. EU Natural Gas - data, forecasts, historical chart - was last updated on September of 2022.
EU Natural Gas is expected to trade at 206.70 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 285.98 in 12 months time.