Natural gas: Prices stay high as winter risk persists – Commerzbank
Commerzbank’s Norman Liebke warns that European gas prices are set to remain elevated this winter as constrained LNG supply and below-average storage levels increase reliance on flexible LNG volumes.
European gas prices are predicted to stay high this winter due to restricted LNG supplies and relatively low storage levels, according to Commerzbank. While colder weather or reduced LNG imports could push prices even higher, lower EU gas demand and expanding LNG capacity may prevent a repeat of the extreme price spikes seen in 2022.
The bank expects prices to decrease significantly to around EUR 50 per MWh next year, but does not foresee them returning to pre-war levels. Europe's gas storage levels are currently insufficient to comfortably see the region through the winter, making the region more reliant on flexible LNG volumes during the colder months.
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