A thermal cash desk

Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, commented to the Kommersant newspaper on the situation at the EU natural gas market.

According to Sergey Kondratiev, the main factors wwere the decline in LNG prices in East Asia (the JKM index is near the lows, around $20 per MBTU), as well as high UGS stocks in Europe and the continued decline in consumption in its industrial sector. However, he emphasizes that temperatures will play a key role in the coming months, and with a cold winter, we may see new highs in TTF prices.