Gas Prices in Europe Reach Three-Year High Amid Low Supplies
By: delo.ua|2026/09/08 14:33:29
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Prefer us on GoogleThe price of natural gas in Europe has reached a three-year high. Benchmark futures rose by 3.4%, reaching €74.95 per megawatt-hour on the Amsterdam exchange. European underground storage facilities are only 67% full, while the seasonal norm is 83%. In Germany, reservoirs are filled to about half. The Association of Gas Storage Operators (INES) warned that even if 77% is reached by November 1, this volume will not be sufficient in the event of abnormal cold weather. Europe is forced to pay a high premium for liquefied gas to attract additional tanker shipments. Strikes on Saudi Arabia's oil infrastructure and attacks on Iranian tankers have exacerbated the situation. The rise in gas prices has also led to an increase in electricity prices in Europe, with German electricity futures for 2027 reaching €126.62 per megawatt-hour, the highest since October 2023. Gas prices have risen for the fourth consecutive week amid new hostilities in the Middle East.
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