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Significant Rise in Natural Gas Prices, EU Storage at 47%

Published January 24, 2026, 06:13
Significant Rise in Natural Gas Prices, EU Storage at 47%

A significant increase in natural gas prices was recorded on Friday, with US natural gas rising by almost 7% and European natural gas by about 3%. US natural gas prices reached $5.38 per million British thermal units (MMBtu), while European TTF prices rose to €39.3 per Megawatt-hour. This increase is due to winter temperatures being below average, resulting in faster depletion of natural gas terminals in Europe as demand for heating rises. Natural gas storage at EU terminals was only 47% as of January 21, a level much lower than the average of previous years. Low storage levels mean that Europe will need to import more natural gas in the summer to replenish its reserves. The rate of depletion of European terminals is the fastest in the last five years, according to Bloomberg estimates. As a result, prices have risen sharply, making LNG imports more expensive for consumers in Europe and Asia.