European Natural Gas Balances Tighten as Qatar LNG Disruption Lifts Prices – ING

European natural gas prices have bounced higher as geopolitical tensions in the Middle East disrupt liquefied natural gas exports from Qatar, according to ING analysts Warren Patterson and Ewa Manthey.

QatarEnergy has extended force majeure on LNG shipments, contributing to reduced EU imports and pushing storage levels below the seasonal average. The analysts flag the tightening supply-demand balance heading into winter.

The combination of lower inflows and below-par inventories risks a tighter winter market for Europe.