Oxford Institute for Energy Studies – Quarterly Gas Market Review

The main theme of the report concerns the volatility of gas prices in Europe in the first quarter of 2025, caused by a cold winter, declining gas reserves, and reduced pipeline gas imports from Russia.

Key findings include a peak in gas prices in February 2025, weakening global LNG demand, and negative economic prospects due to the trade war between the US and China. The report also highlights the impact of US political decisions on the energy market, increased gas demand due to cold weather and low renewable energy output, and expectations for gas storage recovery in Europe during the summer months.