Natural gas prices in Europe rose to €48 per megawatt-hour as traders evaluated Trump's early actions in the White House and the seasonal increase in demand due to winter cold. Among the President's initial measures was lifting a moratorium on new US licenses for LNG exports, paving the way for additional export permits. This move is expected to drive higher demand for US LNG from Europe and Asia. Trump also reiterated his call for the EU to purchase more American oil and gas to avoid potential tariffs. Meanwhile, Russian natural gas flows to Europe via Ukraine ceased at the start of the year after both governments failed to reach an agreement. The IEA noted that while the halt in Russian piped gas does not pose an immediate risk to the EU’s supply security, it may increase European LNG import needs, further tightening global market fundamentals by 2025. This year, European LNG imports are projected to rise by over 15%. Currently, EU gas storage levels stand at 60% capacity.
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