BAKU, Azerbaijan, September 9. Natural gas prices in Europe have risen above €80 per megawatt-hour, reaching their highest level since 2023 and increasing concerns over energy supplies ahead of the winter season.
That prices on the Dutch TTF market, Europe’s main natural gas benchmark, have approached the €80 level. The latest increase has been linked to the impact of the ongoing conflict in the Middle East on liquefied natural gas supplies.
Gas storage levels across Europe remain below seasonal averages, creating additional risks ahead of winter. At the beginning of September, European gas storage facilities were reportedly around 65–67 percent full, among the lowest levels recorded over the past 15 years.
One of the main factors putting pressure on the European gas market is the decline in liquefied natural gas supplies from Qatar to Europe. The conflict in the Middle East and restrictions affecting shipping through the Strait of Hormuz have raised concerns over the stability of global gas deliveries.
Market participants are closely monitoring storage levels as they assess whether Europe will have sufficient gas supplies to meet higher demand during the winter months.
Higher gas prices could create additional inflationary pressure across the European economy and increase operating costs for energy-intensive industries.
