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European Gas Extends Losses Amid Easing Demand, Ample LNG Supply

  • Gas consumption has declined with the onset of summer
  • Russian supply via Nord Stream pipeline remains below capacity
Updated on

European natural gas prices declined for a fifth day, with traders weighing muted demand against risks to supplies from top provider Russia. 

The market has calmed significantly in recent days as consumption has eased with the onset of summer amid ample supply of liquefied natural gas. Disputes over Moscow’s demand to be ultimately paid in rubles for its pipeline volumes by converting foreign currency through Gazprombank JSC seem to be over for now.