Philenews

New 42% Jump in European Natural Gas – TTF at €61

Published March 3, 2026, 12:16
New 42% Jump in European Natural Gas – TTF at €61

The price of European natural gas TTF recorded a jump of over 41%, exceeding €61 per Megawatt-hour (MWh), due to growing concerns about potential disruptions to LNG supply to Europe. The increase is partly due to QatarEnergy's announcement of a halt in LNG production following attacks, as well as fears of disruption to navigation through the Strait of Hormuz. Qatar plays a significant role in supplying LNG to Europe and Asia, while the Strait of Hormuz is a critical channel for global natural gas trade. The increases extend to futures contracts as well.