EU Gas prices steady – ING

European natural Gas prices steadied after last week’s decline, as supply concerns eased with improved Norwegian flows. However, firm price support may still be needed to secure LNG ahead of next winter, Société Générale's FX analysts note.

Storage builds, flows recover

"European natural Gas prices were little changed yesterday, after coming under downward pressure over the last week. EU Gas storage continues to tick higher, with it now more than 65% full, down from the 5-year average of 74%. A recovery in Norwegian Gas flows to Europe following an unplanned outage last week has eased supply concerns."

"We still believe that European Gas prices will need to remain well supported through the year to ensure enough LNG is brought into the region ahead of the 2025/26 winter."