European Gas Climbs on LNG Supply Concerns Ahead of Winter

Dow Jones
09/07

0812 GMT - European natural-gas prices climb more than 2%, trading just shy of 74 euros a megawatt-hour as supply flows from Qatar remain severely disrupted. "LNG has not been flowing out as much as crude oil, leaving the gas market increasingly vulnerable as we near the 2026/27 heating season," ING analysts say. Qatar, one of the world's largest LNG exporters, recently extended force majeure on liquefied natural gas shipments for Edison--one of its largest European customers--through early November. Meanwhile, gas storage levels across the EU are currently 66% full, below the seasonal average. In early European trading, the benchmark Dutch TTF contract is up 2.4% to 73.73 euros a megawatt-hour.

 

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