The price of the European gas returns to gallop, again breaking the roof of 50 euros per megawattora. On the Amsterdam market, TTF contracts scored a 6%rise, touching € 51.1, A level that has not been seen for fifteen months. The energy sector is confirmed as an unstable playing ground, between sudden increases and tensions that seem to not want to give respite.
The rise in the gas price translates into new costs for families and companies, in a phase already marked by the increase in energy expenses. With the winter still in progress, the demand remains high and the risk of further increases is not to be excluded.
Rigid temperatures and interruptions in flows push the rise
The price of the gas returns to run, driven by an intertwining of factors that makes the market more and more unstable. The cold made the heating applicationwhile technical problems in key infrastructures further complicated the situation. Norway, according to European supplier after Russia, had to slow exports due to unexpected faults, while Malaysia has reduced GNL shipments for prolonged maintenance work. The stocks thinks Quickly, the supplies arrange, and the weight of these increases falls directly on families and businesses, already grappling with the increase in the cost of living.
On the Amsterdam market, the future TTF expiring in February closed with a leap by 6.6%, Bringing the 51.4 euros for Megawattora. During the day, the Dutch TTF contract touched 49.67 euros, with an increase of 3%. Numbers that tell a precise reality: The stocks are reducing At worrying rhythms and the uncertainties about the supply capacity continue to make the market tremble.
Stock down and geopolitical instability brake the market
According to Gas Infrastructure Europe, the gas reserves in the European Union were 55.5% of the total capacity at the beginning of the week. Net withdrawals were estimated at 4.8 Teramo, a sign of consumption supported in the most rigid phase of winter. In the short term, An increase in natural gas imports is expected liquefied, but the node of the supply via Gasdotto remains.
One of the most delicate points concerns the passage of gas through Ukraine. The agreement with Russia for the transit is expiring and the future of the flows remains uncertain. Ukrainian president Volodymyr Zelensky said that theUkraine is ready to allow gas transit from Azerbaijan through their infrastructures. According to Fondo Research, an agreement could be reached quickly, but the lack of details has left the pending market, waiting for concrete developments.
A problem that reappears
This situation is not absolutely new. Also in the early January 2025, the Dutch TTF, the reference contract for European natural gas, had exceeded 50 euros/MWH, marking a 50% increase on an annual basis and the highest level from October 2023.
The European natural gas stocks I am quickly descended In the first months of the autumn/winter, below the pre-war decennial medium-long filling level. For now Europe avoids the energy crisisbut gas stocks are slipping around lower levels than the last two winters. This means only one thing: in the coming months it will be necessary to deal with strategic purchases in order not to be found discovered in 2025-2026.