Europe enjoys temporary respite from high gas costs
More than anything else, weak Chinese gas demand is providing relief to EU consumers, but it is uncertain how long this relief will last
European gas buyers have enjoyed some respite over the last two months, with the front-month TTF gas price falling to its lowest level in almost a year, trading at €32–37/MWh ($385–444/1,000cm) during May. This marks a notable decline from above €55/MWh in early February, when the market tightened due to the end of Russian gas transit, a comparatively colder winter and weak output from Europe’s windfarms. Average front-month prices are now lower than they have been since late summer last year. Gas prices remain roughly double those considered the norm in the years preceding the COVID-19 pandemic and Russia’s invasion of Ukraine. “But if you correct for inflation, you are basically back to pr
Also in this section
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
8 January 2026
The region’s access to versatile feedstock, combined with policy support, is setting it up to meet growing demand both at home and abroad
7 January 2026
No longer can the energy source be considered a sidekick to oil in the Middle East and neither should it step aside for less convincing alternatives
