European natural gas prices have risen to 34 euros per megawatt hour due to increased competition for liquefied natural gas from Asia. Lower prices have attracted buyers back into the market, driving North Asia LNG prices back above $11 per million British thermal units.
The European Union is expected to present a roadmap to reduce dependency on Russian energy imports later on Tuesday. The Dutch TTF contract, a benchmark for European natural gas prices, is currently trading 4.3% higher at 34.36 euros per megawatt hour.
