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Infographic: European gas prices drop back from record highs, but tough winter ahead

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Infographic: European gas prices drop back from record highs, but tough winter ahead

  • Author
  • Stuart Elliott
  • Commodity
  • Energy Electric Power LNG Natural Gas Shipping
  • Topic
  • Europe Energy Price Crisis Infographics War in Ukraine

European wholesale gas prices have fallen back from their record highs in late August, but month-ahead prices still reflect concerns over market tightness through the upcoming winter.

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Russian gas supplies are now only delivered to Europe in small volumes via Ukraine and the TurkStream pipeline, adding to concerns already about Europe's ability to refill storage sites in Summer 2023.

LNG supplies into Europe remain strong, but cold weather this winter could still test the European gas market, while continued low French nuclear availability is likely to boost gas demand in the power generation sector.

Click here to see the full-size infographic.

Infographic illustrating how Russian gas flows to europe in Q1-Q3 have gone down 49%, with gas demand falling 9%, gas storage at 94% this year, versus 77% this time last year, and a map of Europe showing events and capacity related to pipelines and import terminals.