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CORRECTED-EUROPE GAS-Gas prices edge down on flagging demand

ReutersNov 13, 2025 12:09 PM

- Dutch and British gas prices were slightly down on Thursday, trading in a narrow range amid weak demand on warm weather, which is expected to shift colder over the coming week.

The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 0.32 euros at 30.51 euros per megawatt hour (MWh), or $10.39/mmbtu, by 1109 GMT, LSEG data showed.

The Dutch day-ahead contract TRNLTTFD1 was similarly down, shedding 0.15 euros at 30.15 euros/MWh.

"As we are likely to see some injections, a looser balance right now is somewhat offset by an approaching cold period next week," said LSEG analyst Ulrich Weber.

He added that a three-day extension on Wednesday of the outage at the gas processing plant Kollsnes in Norway has rightfully not made the market nervous.

Temperatures in the Netherlands are expected to fall to 7.3 degrees Celsius on Monday from 12.6 C forecast for Friday, and continue to fall steadily through the week to 3.9 C next Friday, LSEG data showed.

Similar trends are expected in Germany where average temperatures are seen dropping to 5.2 C on Monday and falling through the week to 1.3 C on Friday, November 21, the data showed.

In the British market, the day-ahead contract TRGBNBPD1 dipped 0.5 pence at 67.50 pence per therm.

On the demand side, gas demand in Local Distribution Zones (LDZ) dropped slightly on Wednesday and is expected to drop again slightly today, analysts at Engie's EnergyScan said in a morning note.

According to LSEG and Kpler data, China has received on Nov. 11 a 14th LNG cargo from Russia's Arctic LNG 2, the analysts said.

In the European carbon market, the benchmark contract fell by 0.40 euros to 81.51 euros a metric ton.

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