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30 Sep 2020 | 15:15 UTC — London
European gas and power markets enter Q4 looking relatively well supplied but LNG, nuclear and wind variables could tighten supply in the event of a cold snap.
EU gas storage levels are at 94% full while both Norwegian and LNG supplies are expected to rebound – but Europe could face competition from Asia for cargoes. And while European electricity demand is set to remain below norms into Q4, record low nuclear availability could trigger price spikes at times of low wind.
Related analysis: Recovering markets look well supplied, with downside risk to the fore