Live Updates > Live Update Details
2025-10-29 17:53:08
[European Gas Market Tug-of-War! Norwegian Production Cuts Counter the Impact of a Mild Winter] ⑴ Wholesale gas prices in the Netherlands and the UK rose slightly on Wednesday, as a decrease in Norwegian supply offset weak heating demand due to mild weather. ⑵ The benchmark Dutch TTF near-month contract rose €0.23 to €31.73 per megawatt-hour, while the December contract rose €0.29 to €31.99. ⑶ UK near-month gas prices rose 0.59 pence to 80.22 pence per tsimam, maintaining a high-level consolidation pattern. ⑷ Norwegian gas infrastructure maintenance led to a drop in exports to 287 million cubic meters per day, a significant decrease from Monday's 326 million cubic meters. ⑸ Analysts warned that any extension of maintenance plans would pose a bullish risk and could further push up gas prices. ⑹ Heating demand in Northwest Europe is expected to decrease by 54 gigawatt-hours per day, with warm weather continuing to suppress consumption. ⑺ The EU announced it will begin pooling corporate gas demand, accelerating its strategy to reduce dependence on Russian energy. (8) The benchmark contract in the European carbon market rose by €0.36 to €78.65 per tonne as the cost of energy transition continued to climb.
