Natural gas prices in Europe rose this week, and there is still uncertainty about Russia's supply of natural gas to Europe as the gas transit agreement with Ukraine approaches. According to Froley from ICIS, "The amount of gas transported by Russia through Ukraine will remain a key focus for traders during the holidays." Florence Schmit, an energy strategist at Rabobank, stated that it is unlikely that gas supplies through Ukraine will resume in the first quarter of 2025, which will make European natural gas prices more susceptible to the increase in demand for liquefied natural gas imports in the new year. Schmit added, "The actual concerns about supply are limited due to the small amount of gas that needs to be replaced from other sources."