Investing.com -- European natural gas prices continued their downward trend in midday trade, with the benchmark Dutch TTF contract falling below 32 euros per megawatt hour.

The decrease in prices comes as liquefied natural gas (LNG) imports to Northwest Europe have started to rise again, reaching a level that analysts at DNB Markets believe is sufficient to balance the European market and replenish inventories.

Weaker demand in Asia is also contributing to the decline in prices. China, a major player in the global gas market, re-exported a record volume of gas in April. This information was reported by market observers who used data from Bloomberg as their source.

Moreover, demand in Asia is expected to weaken further this week due to above-average temperatures. This decrease in demand, coupled with increased LNG imports to Europe, is exerting downward pressure on the price of natural gas in the European market.

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