29.10.202508:25:21UTC+00European Gas Steadies as Supply Risks Rise

European natural gas futures steadied around €32 per megawatt-hour, returning to their typical trading range as investors weighed robust storage levels against indications of tightening supply and increasing demand. Recently, shipments of liquefied natural gas to Europe have decelerated, and Norwegian pipeline flows have decreased due to maintenance work, sparking renewed concerns over short-term supply stability. With temperatures across northwest Europe expected to drop following a mild period, heating demand is likely to rise. The continent’s gas storage remains strong, with overall capacity at approximately 83%, including Italy at 94.7%, France at 92.7%, and Germany at 75.2%. Nevertheless, some countries have already started utilizing their reserves as the heating season begins. Traders remain vigilant about potential disruptions to global flows or an increase in competition for LNG cargoes. Additionally, Ukraine is set to rely more on EU imports this winter after losing about 60% of its gas production capacity due to Russian attacks.