CITI MAINTAINS DOWNSIDE BIAS ON US HENRY HUB NATURAL GAS PRICES DUE TO
OVERSUPPLY BUT RAISE GLOBAL GAS PRICES ON LNG SUPPLY DISRUPTIONS
CITI EXPECTS EUROPEAN TTF NATURAL GAS AND ASIAN JKM LNG ARE LIKELY TO AVERAGE
€75/MWH ($25.4/MMBTU) AND $26.8/MMBTU IN 2Q26 RESPECTIVELY