Chart Deck
Lame duck, locked and loaded
Eight weeks before Democrats take Congress, Trump has nothing left to lose. The fragile recovery in Hormuz LNG transits hangs in the balance, alongside so much else.
Gas for peace? Europe already tried that
Illegal, uncommercial, and morally bankrupt: Kushner’s tone-deaf pitch for Europe to restart Russian pipeline flows is dead on arrival
The Ukraine-sized hole in ENTSOG’s winter outlook
Modelling by Europe’s gas network operators implies Ukraine would send almost 5 Bcm westward in a harsh winter, even if that means leaving one tenth of domestic demand unmet
Japan’s LNG love story is not over yet
Rising power demand, slow nuclear restarts and 10 GW of auction-backed gas plants could halt the fall in Japan’s LNG imports, argues Japan NRG.
This ain’t no bubble
Investment funds spent six weeks selling hard into a rally that lifted TTF to €80/MWh. The supply risk is real, and ENTSOG’s winter outlook quietly agrees
Panic and capitulation won’t save Europe
EU delays methane regulation and urges gas demand restraint, as Germany orders SEFE to fill storages. But humiliating climbdowns cannot protect Europe this winter
Deciphering the Hormuz narrative war
Washington says Iran has lost control of Hormuz. Iran says it struck tankers on its blacklist. More ships are moving, but on whose terms?
Halfway to reality
TTF has swallowed more of the Hormuz closure risk. Beneath the latest peace sell-off, funds have banked profits and made room to buy again.
America’s accidental heist of the global LNG business
GASTECH 2026 REFLECTIONS: War shifts US strategy from hard sell to soft power, while Qatar goes on the defensive
Gastech 2026: LNG hype vs reality
And human vs robot dance-off
Europe’s gold-plated energy crisis
Hedge funds cash in as winter scarcity fears ignite EU gas market
The TTF options paradox, explained
How options work, how they appear in fund positioning, and what they add to Energy Flux’s risk models.
Europe rolls the dice on winter gas
Our new interactive data model reveals how bad things could get in the EU gas market this winter, and what must go right to avoid disaster