Mitsubishi UFJ: Russia-Ukraine protocol could have a significant impact on natural gas

On February 20th, Jinshi Data reported that Mitsubishi UFJ analysts stated that the impact of the peace protocol between Russia and Ukraine on natural gas will far exceed other commodities. Ehsan Khoman and Soojin Kim stated: "If the potential peace protocol includes increasing the flow of Russian natural gas through Ukraine to Europe, then it will make it easier to replenish European natural gas storage before the next winter." The bank stated that the increase in summer supply will put pressure on TTF natural gas prices and rapidly fill Europe's natural gas reserves. The bank expects this year's TTF Benchmark contract price to be 38 euros per megawatt-hour, but due to potential energy congestion risks, the contract price may fall below 30 euros per megawatt-hour.