European gas prices maintain gains on Jan 25

European gas prices on January 25 mostly maintained the gains they made in the previous trading session, as fears persist of an imminent Russian invasion of Ukraine.

The February supply contract at the Dutch TTF hub had edged down only 1.4% as of 12:05 GMT, trading at €91.72 ($103)/MWh, according to ICE trading data. This was after the contract surged 17.7% on January 24 to €93/MWh.

Gazprom's gas deliveries to Europe have slumped to a record low this month, but so far the impact has been mitigated by an increase in LNG imports and milder weather. Utilisation at EU and UK gas storage facilities now stands at 42.3%, down 0.54% percentage points from January 24.

NATO members put their forces on standby on January 24 and dispatched ships and fighter jets to east Europe amid heightened tensions with Russia. The US and UK are also evacuating the families of embassy staff in Ukraine because of the threat.

Moscow has amassed a force of more than 100,000 troops near the Ukrainian border, and Kyiv claims it is preparing to invade. The Kremlin denies this, however, and has warned instead that Ukraine is preparing to attack the separatist, pro-Russian regions in its east.