• Natural Gas News

    European gas prices hold onto gains ahead of cut in Nord Stream flow

Summary

The market awaits a further curtailment in Russian gas supply.

by: NGW

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European gas prices hold onto gains ahead of cut in Nord Stream flow

European gas prices in early trading on July 26 held on to gains made on the previous day, as the market awaits the further reduction in gas flow via the Nord Stream pipeline from July 27.

The August contract at the Dutch TTF hub is currently trading at 178 ($182)/MWh, just under 1% higher than the average for the previous trading session. On July 25 the price soared 10%, as Gazprom announced that supplies through Nord Stream would be halved to only 20% of the pipeline's 55bn m3/year capacity.