Daily Management Review

Spot gas prices in Europe rise by a third following the shutdown of the Qatar LNG plant


03/03/2026


Gas prices in Europe went up by tens of percent on Monday after news about military activity near Iran came out. The most recent reason for the increase was the report that Qatar's state-owned company, QatarEnergy, halted LNG production at the Ras Laffan facility because of military attacks.



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On Monday afternoon, the price for gas delivered the next day at the European TTF benchmark hub hit $510 per thousand cubic meters, up from $387 the previous Friday. 

In February, prices were gradually decreasing from a local peak of $500, as people expected the arrival of spring weather. 

The situation in the Persian Gulf may affect the supply of natural gas through pipelines from Iran to nearby countries and the export of liquefied natural gas from Qatar, the UAE, and Oman, which are among the world's major LNG producers.

source: ft.com