Goldman Sachs Sees LNG Glut Pressuring European Gas Prices by 2027

ReutersSep 12, 2025 5:30 PM

Sept 12 (Reuters) - Goldman Sachs GSGSC.UL:

SAYS IT FORECASTS GROWING LNG SUPPLY TO FURTHER INCREASE THE LIKELIHOOD OF EUROPEAN GAS STORAGE CONGESTION IN 2027, PRESSURING TTF TO 20 EUR/MWH ($6.85/MMBTU) THAT YEAR
SAYS ON US GAS, IT REMAINS BULLISH CAL26 HENRY HUB, WHEN WE EXPECT PRICES TO RISE TO $4.50/MMBTU IN SUMMER
SAYS IT BELIEVES FULL RETURN OF THE NEAR 16 MTPA SANCTIONED RUSSIAN LNG VOLUMES WOULD LIKELY PRESSURE 2026 TTF PRICES INTO LIGNITE LEVELS, IN THE LOW 20 EURS/MWH (~$7.80/MMBTU)
SAYS POWER OF SIBERIA 2 MIGHT HAPPEN TOWARDS THE END OF THIS DECADE AND LIKELY INTO THE 2030S AS RUSSIA AND CHINA HAVING YET TO AGREE ON A PRICE FOR THE GAS, AND GIVEN THE LARGE SCALE OF THE PROJECT

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