Natural gas prices in Europe stable at €32

European natural gas futures have hovered around €32 per megawatt-hour since mid-September, supported by ample inventories and LNG transactions.

Wind generation has also been strong, while temperatures have stayed above seasonal norms.

EU storage levels currently stand at 81.6% of capacity, with Germany at 76.4%, France at 90.6%, and Italy at 91%.

Meanwhile, as part of its latest sanctions package against Russia, the European Union has proposed a full ban on Russian LNG imports starting January 1, 2027, in an effort to curb President Putin’s ability to fund the war in Ukraine.

The US has reiterated its willingness to boost LNG exports to Europe, with additional production capacity set to come online over the coming years.