Goldman Sachs Forecasts 2026/27 Ttf At 29/20 EUR/Mwh, Jkm At $10.50/$7.30/Mmbtu

Nov 18 (Reuters) - GOLDMAN SACHS:

• SAYS IT EXPECTS 2026/27 TTF AT 29/20 EUR/MWH AND JKM AT $10.50/$7.30/MMBTU TO INCENTIVIZE ADDITIONAL GAS DEMAND

• SAYS IT SEES 2028/2029 PRICES TO 12/12 EUR/MWH FOR TTF, $4.40/$4.45/MMBTU FOR JKM AND $2.70/$2.75/MMBTU FOR HENRY HUB

• SAYS AS GLOBAL LNG SUPPLY CONTINUES TO GROW FASTER THAN ASIA DEMAND, ESTIMATE NW EUROPEAN STORAGE WILL FACE CONGESTION IN 2028/2029, PRESSURING TTF AND JKM LOW ENOUGH TO REDUCE GLOBAL LNG SUPPLY

• SAYS IT EXPECT CONTINUED RISE IN SUPPLY TO PULL EUROPEAN GAS STORAGE HIGHER AND, IN TURN, EUROPEAN GAS (TTF) AND GLOBAL LNG PRICES (JKM) GRADUALLY LOWER

• SAYS IT EXPECTS GLOBAL REBALANCING TO ALSO TAKE TTF AND JKM BACK ABOVE 30 EUR/MWH AND $10/MMBTU, RESPECTIVELY, FROM 2033