Page 38 - Demo

Monday, September 29, 2025GAS (p/therm) THUFRIVAR D-1 VAR W-1AVG.MAXMIN 25/926/9FROM THE BEGINNING OF THIS YEARNBP SPOT80.00 80.600.60.7593.43145.3075.10NBP OCT2581.06 81.450.391.494.37134.3276.54NBP NOV2584.80 85.400.60.8598.89133.5282.72NBP DEC2587.59 88.040.450.36101.07135.0086.32NBP JAN2689.03 89.470.440.22101.54134.3987.46NBP FEB2689.04 89.420.380.18101.02132.9487.38NBP MAR2685.61 85.890.280.3497.16128.7583.34NBP APR2681.52 82.110.590.3188.92112.7178.38NBP MAY2679.13 79.610.480.4884.48106.2274.74NBP JUN2678.15 78.650.50.6282.50104.4471.89NBP JUL2677.51 78.060.550.3982.38104.0172.46NBP AUG2678.82 79.340.520.4483.14104.4273.26NBP SEP2680.22 80.750.530.4384.07104.7973.41NBP Q4 2584.48 84.960.480.8798.10133.9981.96NBP Q1 2687.86 88.220.360.2599.87132.0086.02NBP Q2 2679.59 80.120.530.4785.29107.6475.00NBP Q3 2678.83 79.370.540.4283.19104.4073.04NBP WIN202586.15 86.570.420.5698.98133.0083.97NBP SUM202679.21 79.740.530.4484.23106.0074.01NBP WIN202687.34 87.650.310.789.68104.6180.91NBP SUM202772.99 73.220.230.2473.2181.8967.41NBP WIN202780.96 81.110.150.3980.1686.8675.08The NBP spot price rose by 0.8% to 80.60 p/therm on Friday, supported byrising demand amid a 2.1-point drop in EU storage and French LNG plantsdeclaring force majeure due to strikes. On the forward curve, the Winter 2025delivery contract advanced by 0.5% to 86.57 p/therm, with increasedNorwegian supplies capping further upside.