European Natural Gas Market - Episode 2

We are in a seasonal bull market for TTF..! 23 November 2024

As promised in our episode 1, we aim to update you on a timely basis on our view of the European natural gas market. If you did not manage yet to read the first episode carefully, please do so now as we will build each episode on past basics, knowledge and findings.

Brussels, we Have a Problem

The past week nicely illustrated the ongoing fragility of the European energy landscape and why Europe is on a slippery slope to higher energy prices and even energy poverty due to its green shift laws.

What happened? Between the 1st and 22nd of November 2024, European gas storages drew at the fastest rate since we can measure it. And the month isn’t even over yet.

And this, ladies & gentlemen, is a problem - there are no two ways about it. As we drill down on the reasons for the record draws so far, you will hopefully agree with our concern here.