On Thursday 18 July, in its second quarterly review for 2024, the Agency for the Cooperation of Energy Regulators (ACER) noted price volatility and changes in supply on European gas markets during the first half of the year.
At the end of the first quarter, gas prices initially fell to levels not seen since the energy crisis but rose in the second quarter, due in particular to a tightening of the global market for liquefied natural gas (LNG) owing to “outages in LNG production facilities and increased demand outside Europe”, ACER said.
However, high levels of gas storage and continued weak consumption in the EU have limited further price rises, with an average TTF price 33% lower in the first half of the year than in the same period for 2023.
Price differentials between EU liquid trading hubs have also narrowed considerably since 2022, but price integration has not returned to pre-crisis levels, partly due to higher transport costs.
To see the ACER report: https://aeur.eu/f/d38 (Original version in French by Pauline Denys)