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ABN Amro: the gas market in Europe is coming price war

The increase in supplies of LNG will enhance competition and limit the growth of gas prices.

ABN Amro analysts note that the prospects for the gas market in Europe remain very constructive, given the policy aimed at replacing coal and nuclear fuel in the production of electricity, as well as the potential for rising oil prices. However, in light of the rapid growth of liquefied natural gas production and the efforts of the United States to gain a share in the European market, the future is not as positive as before.

The Bank reports a decrease in its forecast for the price of natural gas at the TTF hub in the Netherlands for 2019 from 27 euros per MWh to 20 euros per MWh, the forecast for 2020 from 32 euros per MWh to 24 MWh, and for 2021-from 32 euros per MWh to 25 euros per MWh.

ABN Amro notes that the volume of LNG imports is growing, and Russia is not ready to give up its market share and can keep the price of gas supplied through the pipeline at a level below the cost of LNG. Analysts of the Bank state that Europe can win about the price war and diversification of gas suppliers.

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