... situation. Summer quotes at the European TTF hub are holding in the range of $330–360 per thousand cubic meters, several times lower than peak crisis levels in 2022. After rerouting import channels, Europe has noticeably reduced its dependence on pipeline gas from Russia: since January 2025, transit through Ukraine has been completely halted (after the contract with Gazprom concluded), and northern routes are no longer operational (the Nord Stream pipeline has been put out of commission, and transit ...

... continue actively sourcing liquefied natural gas (LNG) from external markets—LNG receiving terminals operate at high capacity, taking in tankers from the U.S., Qatar, Australia, Africa, and other regions. This compensates for the sharp decline in pipeline supplies from Russia. Since January 2025, the transit of Russian gas through Ukraine has been completely halted following the expiration of the contract with Gazprom, and the Polish-Belarusian route (the Yamal-Europe pipeline) is also out of ...

... the key European hub TTF are holding in the range of $330–360 per thousand cubic meters, which is several times lower than the peaks of the 2022 crisis. Following the adjustments in import routes, Europe has significantly reduced its dependence on pipeline gas from the Russian Federation: since January 2025, transit through Ukraine has been completely halted (after the contract with Gazprom ended), and northern supply channels are also non-operational (the Nord Stream pipeline is out of service,...

... risks of fuel shortages. Market prices for gas remain relatively low: quotations at the TTF hub are around €30 per MWh (approximately $370–380 per thousand cubic meters), which is significantly lower than last year’s peaks. LNG Imports Instead of Pipelines: Active supplies of liquefied natural gas allow Europe to compensate for the reduction in pipeline imports. In the summer of 2025, the monthly volume of LNG imports to the EU consistently exceeds 10 billion cubic meters—significantly more ...

... elevated levels. The Dutch TTF index fluctuates at around $400–420 per thousand cubic meters – roughly in line with the same period last year. Summer heat and the need to fill storage facilities are maintaining gas demand despite relatively limited pipeline supplies from Russia. Experts note that European companies will have to inject significantly more gas into storage than last year, considering increased consumption last winter and the complete cessation of transit through Ukraine since the beginning ...