July 25 natural gas futures quotes (Front Month) at the Dutch TTF hub went down below the mark of €32 per megawatt-hour. The price was €31.92/MWh, which is 1.3% less than the day before. This is the first decline below €32 since late April 2025.
The drop in prices on the European gas market has been observed in recent days and is caused by several factors. One of the key factors is the technical dynamics of trading. In addition, supply from Norway will stabilize following the completion of maintenance at the Troll field. More active arrival of liquefied gas is also expected: within two weeks, 18 LNG tankers will arrive at EU terminals.
Against the background of forecasts of warm and sunny weather, a reduction in gas consumption for electricity production is possible, as generation from nuclear and solar sources increases.
The process of pumping gas into European storages continues. As of July 23, 70.6 billion cubic meters of gas were stored in PSG Europe, which is about 66% full. In some countries, in particular in the Netherlands, it is not excluded that storage facilities will reach 90% filling even earlier than November 1. At the same time, the EU states agreed to make the terms of achieving this indicator more flexible: the goal of 90% can be achieved between October 1 and December 1.
We will remind, at the end of June, natural gas futures quotes on the Dutch TTF hub experienced a sharp decline of more than 12%, falling to the level of 35.3 euros per megawatt-hour. During one night, the price decreased by 5 euros.
