NewsSignals AI analysis·Reuters·
Goldman's five reasons why European gas prices won't repeat 2022
Grade Abearish AI signal$TTF
Goldman Sachs says European natural gas prices are unlikely to repeat the extreme 2022 rally, forecasting 70 EUR/MWh through Q4 2026 if Persian Gulf LNG exports continue recovering.
Global LNG supply is 6% higher than in 2022, Northwest Europe's LNG import capacity has increased 78%, and Goldman expects regional gas demand to be 16% lower this winter than pre-crisis averages.
These structural improvements could limit winter price spikes and ease pressure on European energy markets, although the outlook depends on continued LNG supply recovery.
Bullish strength: 25/100
- Global LNG supply is 6% higher than in 2022, supported by a 23% increase outside the Middle East.
- Northwest Europe's LNG import capacity has increased 78% since 2022.
- Higher nuclear and renewable generation and lower gas demand could reduce supply pressure.
Bearish strength: 75/100
- Goldman forecasts European gas prices at 70 EUR/MWh through Q4 2026, 20% below current levels.
- The ongoing LNG supply shock is comparable in scale to the 2022 Russian gas supply curtailment.
- Northwest European gas inventories are lower than in 2022.
- The forecast depends on continued improvement in Persian Gulf LNG exports.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.