Even as a mild start to European winter and a glut of LNG cargoes calm natural gas prices on the continent, governments are urging greater gas conservation as the risks of spiking demand pile up.

European Union natural gas storage is currently above 95%, ahead of the bloc’s 80% target for winter, as the region winds down net injections. Import terminals around the continent have also become surrounded with liquefied natural gas vessels waiting for slots to unload or a jump in prices, helping relax the market.

The prompt Dutch Title Transfer Facility (TTF) has started ticking up over the past few days, but is still around 65% below the record highs of August. The TTF price for January gas closed at around $36/MMBtu Thursday.

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