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            <title>Reading the Gas Market: Signals That Move Nordic Power Prices | Tobias...</title>
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            <description>&lt;p&gt;Tobias Federico, Chief Analyst at Montel, sets out why natural gas remains the strongest medium- to long-term driver of Nordic power prices, ahead of EUA and coal. He tracks Europe's slow storage refill — Germany is on course to dip below the critical 20% threshold this winter — the shifting balance between Norwegian pipeline gas and LNG, and how the Strait of Hormuz conflict is pulling LNG cargoes toward Asia and tightening supply for Europe. His conclusion: no volume risk this winter, but real price risk, especially in March. Recorded at Montel Energy Deep Dives – Nordic, Oslo, 19 August 2026.&lt;/p&gt;&lt;p&gt;&lt;a href="http://video.montel.energy/reading-the-gas-market-signals-that"&gt;&lt;img src="http://video.montel.energy/64968568/130743672/9fe6029c99d14541d8eecdfdaf8b4964/standard/download-16-thumbnail.jpg" width="600" height="450"/&gt;&lt;/a&gt;&lt;/p&gt;</description>
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            <itunes:summary>Tobias Federico, Chief Analyst at Montel, sets out why natural gas remains the strongest medium- to long-term driver of Nordic power prices, ahead of EUA and coal. He tracks Europe's slow storage refill — Germany is on course to dip below the critical 20% threshold this winter — the shifting balance between Norwegian pipeline gas and LNG, and how the Strait of Hormuz conflict is pulling LNG cargoes toward Asia and tightening supply for Europe. His conclusion: no volume risk this winter, but real price risk, especially in March. Recorded at Montel Energy Deep Dives – Nordic, Oslo, 19 August 2026.</itunes:summary>
            <itunes:subtitle>Tobias Federico, Chief Analyst at Montel, sets out why natural gas remains the strongest medium- to long-term driver of Nordic power prices, ahead of EUA and coal. He tracks Europe's slow storage refill — Germany is on course to dip below the...</itunes:subtitle>
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            <media:description type="html">&lt;p&gt;Tobias Federico, Chief Analyst at Montel, sets out why natural gas remains the strongest medium- to long-term driver of Nordic power prices, ahead of EUA and coal. He tracks Europe's slow storage refill — Germany is on course to dip below the critical 20% threshold this winter — the shifting balance between Norwegian pipeline gas and LNG, and how the Strait of Hormuz conflict is pulling LNG cargoes toward Asia and tightening supply for Europe. His conclusion: no volume risk this winter, but real price risk, especially in March. Recorded at Montel Energy Deep Dives – Nordic, Oslo, 19 August 2026.&lt;/p&gt;&lt;p&gt;&lt;a href="http://video.montel.energy/reading-the-gas-market-signals-that"&gt;&lt;img src="http://video.montel.energy/64968568/130743672/9fe6029c99d14541d8eecdfdaf8b4964/standard/download-16-thumbnail.jpg" width="600" height="450"/&gt;&lt;/a&gt;&lt;/p&gt;</media:description>
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