AUGUST 2026
The war in Iran, below-normal European storage levels and Asian weather are the principal factors affecting the LNG market. European storage levels are at about 63% full, at 63 Bcm at the time of writing, which is slightly lower than the five-year minimum of 65 Bcm. Low storage levels post-winter 2025/2026, high gas prices and the backwardated structure in the TTF forward curve are all responsible for the slower pace of storage refilling. Storage levels are forecast to rise to roughly 77.5 Bcm by October 2026, but the economics are not favorable to restock, as the current TTF risks having to sell later at lower prices. TTF is still in backwardation at the time of writing. At roughly 80% full, European storage levels are more than likely adequate if there is a mild winter, but it does make Europe more dependent on LNG and vulnerable under prolonged cold weather conditions.
Complete the form below to download the full article from Poten’s LNG Market Outlook, which includes market forecasts and additional analysis.