European Gas Prices Touch 2025 Low Before Trump Zelenskyy Talks

European gas prices have slipped to their lowest point of 2025. The timing lines up with high-level meetings in Washington between Donald Trump, Volodymyr Zelenskyy, and European leaders. On August 18, the Dutch TTF benchmark settled at €30.50 per megawatt hour, which is not just a small dip. It is down more than 8 percent in a month and almost 23 percent compared to last year. Import prices tell the same story: European Union natural gas came in at $11.62 per MMBtu in July, a 6 percent drop from June. When you look at the trend, it’s clear the market is running cooler than it has in years.

Steady LNG Imports Keep Supply Strong

There are a few reasons behind this. Europe has filled its gas storage faster than expected, and by late summer, those levels are near record highs. That takes a lot of the fear out of heading into winter. LNG imports, especially from the U.S., have been flowing in steadily, keeping supply strong even with lower pipeline volumes from Russia. Russian gas transit, while politically sensitive, hasn’t been disrupted in a big way this year. On top of that, demand isn’t growing much, and the trading side of the market looks calmer. Together, that’s a recipe for weaker gas prices across European hubs.

Talks Ease Market Nerves And Lower Risk

Since Trump, Zelenskyy, and European leaders are sitting down has eased market nerves. Energy traders had been worried about new sanctions. They were also on edge about sudden policy shifts. This may lower the chance of immediate supply shocks. Whether or not a settlement is realistic, the perception of reduced risk has softened prices. Markets are reacting less to fear and more to fundamentals.

Gas Prices Show Stability With Some Wild Cards

Forward prices suggest only a small bump later this year. The contracts are around €33 per megawatt hour for winter. If storage is filled at the pace it has been, Europe should hit the 90 percent target before the cold months.  It will keep a buffer against supply worries. But there are still wild cards.

European gas is trading at levels that suggest comfort rather than crisis. Even natural gas benchmarks are showing double-digit declines compared to last year. Traders and policymakers will still keep a close eye on Washington. However, the current market mood is shaped less by panic and more by a sense that Europe finally has some breathing room on energy supply.