Europeisk gasspris i 100

European gas prices have surpassed 100 euros per megawatt-hour, according to recent data from Infront. The price was only 27 euros at the turn of the year, and last year it was around 32 euros. The main reason for the high prices is the Iran war, which creates new challenges for deliveries from countries like Qatar. Additionally, Europe has far less gas in storage than usual at this time of the year.

Gas prices in Europe are now much higher than oil prices, measured by energy quantity. While oil prices have been around 117 dollars per barrel over the past period, today's gas price is over 190 dollars per barrel. European gas prices are at their highest since 2022, the year when Russia launched a full-scale invasion of Ukraine.

In August 2022, European gas prices peaked at around 340 euros per megawatt-hour. That year, Norwegian electricity prices were sky-high, with the average price in August 2022 being over four kroner per kilowatt-hour. Gas reserves in Europe are around 75% full. In Germany, the fill level is a bit over 60%, according to a Swiss overview.

Europe is facing potential challenges in coping with a cold winter, warned analyst Shehar Aziz of London Stock Exchange Group recently to E24. He expects a sustained high gas price. - I believe the average price of TTF will be between 95-100 euros per megawatt-hour throughout the winter, said Aziz. While Asia and Europe have gas reserves, prices in the USA are much lower.

The USA has large gas production and exports significant amounts of liquefied natural gas (LNG). In the third quarter, Equinor received over two dollars per MMBtu for gas sales in the USA, while the company earned 20 dollars per MMBtu for gas sold in Europe. - Competition will arise in LNG (liquefied natural gas) between Asia and Europe, especially with the coming cold weather, said Equinor CEO Anders Opedal at a press conference on Wednesday.

He believes Europe can face challenges if the winter is cold and gas reserves are significantly depleted. - I don't think there will be a shortage of gas, but there may be high prices, says Opedal. Gas prices are reported in various currencies and units, including kroner per cubic meter, euros per megawatt-hour, pence per therm, and dollars per million British thermal units (MMBtu).

Rystad Energy recently estimated that LNG importers will receive an additional 39 billion dollars (362 billion kroner) in 2026, while they will deliver significantly less gas. Total gas import charges for 2026 are expected to rise by 18% to 256 billion dollars, compared to the forecast before the Iran war, Rystad wrote in a recent note.

The EU organization Acer estimates that the Middle East conflict will increase Europe's gas import bill by between 18 and 33 billion euros, assuming the imported volume remains unchanged. High gas prices are also driving up electricity prices, Acer points out. A previous version of the article mentioned an incorrect percentage for the jump in 2026. This situation has been corrected on October 28 at 14:45.