The sense of urgency that pervaded the global natural gas market at this time last year has eased as storage inventories in Europe and Asia are well stocked, and the supply outlook is said to have improved considerably heading into winter. 

In Europe, which continues to drive the market as it replaces Russian gas supplies cut off last year, storage caverns are nearly full and close to record capacities. Global LNG demand has been steady, with Asian and European imports largely flat from last year’s levels. 

There is no flurry of buying activity and gas benchmarks in both regions have fallen significantly from where they stood last year. 

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