Rohstoffe: Europäischer Gaspreis erreicht höchsten Stand seit Ende 2022

Gas prices in Europe have reached their highest level since late 2022, driven by escalating tensions in the Middle East. The benchmark European gas contract, TTF, traded in Amsterdam, surged to 79.11 Euro per Megawatt hour (MWh) for the first time since 2022, marking a 1.22 percent increase from the previous day. This price increase follows retaliation from the US military against Iranian attacks on a US warship, which involved destroying five Iranian oil tankers and sinking one.

Iran's Revolutionary Guards reportedly launched "heavy rocket attacks" on Jordan, a US ally, resulting in 20 intercepted ballistic missiles. This latest price surge has made gas more expensive in the wholesale market than it was at the beginning of the Iran conflict, when the rate briefly surpassed 70 Euro per MWh in March. Before 2022, the price had peaked at over 300 Euro per MWh in 2022 due to a Russian supply disruption caused by the Ukraine war.

The current concern is that liquefied natural gas (LNG) deliveries from Persian Gulf fields could be permanently blocked. A sustainable opening of the Strait of Hormus seems unlikely, with no sign of a peaceful resolution to the conflict. Gas prices have been rising since early July, reaching nearly 40 Euro at the beginning of the month.

Major gas producers in the region, like Qatar's QuatarEnergy, have largely reduced production due to the Hormus situation. Experts do not foresee a market trend reversal. Commerzbank analyst Norman Liebke expects a colder winter in Asia due to the El Niño weather phenomenon, which could increase LNG demand there. Lower gas storage in Europe suggests persistent demand for LNG, potentially intensifying competition and driving prices higher.