Q2 saw a continuation of the European gas price rally that began in late February and lasted until early June, when prices stabilised. The monthly average TTF front-month price rose from 8.14 USD/MMBtu in February to 10.12 USD/MMBtu in May and 10.87 USD/MMBtu in June. The recent price rally and stabilisation of European gas prices occurred despite higher European production and pipeline imports, lower net storage injections, lower consumption, and lower import and sendout of LNG, which acted as the balancing element. Source: OIES
