European LNG price debuts with little success

Starting from the entry into force of Regulation (EU) 2022/2576, a daily assessment of the LNG price had to be published, consisting of a weighted average price of the daily quantities traded on the spot market, but the first publication did not come out as expected.

There were few transactions and only 2 of them were eligible, so the expected “average European LNG price” could not be composed.

It is expected that this assessment will be improved shortly, as the agreement reached by the European Union to cap the TTF MA price at €180/MWh depends directly on it: as we had already mentioned, the mechanism will only be activated when TTF MA prices are higher than €180/MWh for 3 working days and are at least €35/MWh more expensive than the reference price of LNG for those same three days.