Dialogos

Nearly 42% Jump in European Natural Gas Price, Reaching €61

Published March 3, 2026, 12:03
Nearly 42% Jump in European Natural Gas Price, Reaching €61

The price of benchmark European natural gas, TTF, recorded a nearly 42% jump on Tuesday, reaching €61 per Megawatt-hour (MWh), due to concerns about a potential reduction in natural gas supply to Europe, due to developments in the Middle East. April delivery contracts rose by 41.9% or €18.22, reaching €61.44/MWh. This jump follows a significant 35% increase recorded the previous day. Qatar Energy, one of the largest LNG exporters, announced yesterday that it had halted production due to attacks related to the war in the Middle East. Qatar plays a significant role in balancing LNG demand in both Asian and European markets. In addition, there are concerns about a possible closure of the Strait of Hormuz, through which about 20% of the world’s LNG passes, which could significantly increase prices internationally. An increase is also being recorded in futures contracts for the months of May and June, by 36.85% and 35.97% respectively, reaching €59.17/MWh and €57.06/MWh.