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Goldman Sees Floor for Falling European Natural Gas Prices With ... - Natural Gas Intelligence

Natural Gas Intelligence · last updated

Goldman Sees Floor for Falling European Natural Gas Prices With Fuel Switching - LNG Recap - Natural Gas Intelligence

Weak industrial demand and mild weather pushed European natural gas prices even lower on Monday after seven straight weeks of losses.

The prompt Title Transfer Facility (TTF) contract fell below $10/MMBtu last week for the first time since June 2021 and stayed there Monday after falling another 1.5%.

If prices continue to fall to near $8, Goldman Sachs analysts expect another 300-400 MMcf/d of European gas demand to result from coal-to-gas switching.

“The substitution process can work as a temporary floor to gas prices until industrial demand and Asia LNG imports start to improve more visibly, which in our view will ultimately pull gas prices higher into late...

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