Global Commodities: Incorporating Russian gas increase into the 2026 European balance

Commodities

229 Views17 Mar 2025 12:02

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SUMMARY

Russian pipeline gas flows to Europe to begin at 15 BCM/year in second half of 2025, increasing gradually
Likely scenario involves Russian gas flowing through Ukraine corridor, with potential for additional volumes from Nord Stream and LNG
Impact on European gas prices expected to be tight in 2025, but bearish outlook for 2026 with increased supply from Russian gas and other sources

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