02.09.202508:28:17UTC+00European Natural Gas Extends Rebound

European natural gas prices surpassed €32.2 per megawatt-hour on Tuesday, continuing a modest recovery from the previous session as markets evaluated supply prospects ahead of the European heating season. Reports suggested that EU members were considering new regulations to ensure a complete ban on Russian natural gas within the bloc's energy market by the end of 2027, aiming to eliminate loopholes for countries that had previously resisted the prohibition. Additionally, uncertainty loomed over future liquefied natural gas (LNG) availability following an agreement between Russia and China to proceed with the Power of Siberia 2 pipeline. Recent data indicated that LNG imports have risen by over 50% since the year began, strengthening Europe's efforts to secure alternative sources after disruptions in gas flows from Russia. Meanwhile, natural gas consumption for power generation in northwestern European nations increased to over 100 gigawatt-hours per day this week, as milder temperatures coincided with reduced renewable energy output, primarily due to decreased wind power generation.