{
  "id": 14717688,
  "title": "Europe’s Gas Prices Close to 2022 High as Hormuz LNG Flows Remain Limited",
  "url": "https://urgent.news/2026/10/15/europes-gas-prices-close-to-2022-high-as-hormuz-lng-flows-remain",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-15T14:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Europes-Gas-Prices-Close-to-2022-High-as-Hormuz-LNG-Flows-Remain-Limited.html"
  },
  "original_language": "en",
  "account": "Europe's benchmark natural gas prices are nearing their highest levels since late 2022 due to limited LNG supplies from Qatar, exacerbating the EU's challenge of replenishing depleted storage facilities before the winter season. The front-month price at the Dutch Title Transfer Facility TTF, a key indicator for Europe's gas market, dropped by 1% on Thursday at 9 a.m. Amsterdam time, but stood at $96.56 per megawatt-hour, the highest since December 2022 when Russia's pipeline gas supply was cut off. EU storage sites were only 74% full as of October 14, significantly below the five-year average of around 86% for this period. Warren Patterson, Head of Commodities Strategy at ING, noted that LNG flows from the Middle East have not recovered as rapidly as oil flows, with Middle Eastern LNG flows currently about 80% lower than the previous year. The market is increasingly anticipating that Persian Gulf LNG may largely remain absent from global markets during the Northern Hemisphere winter, leading to intense competition between Europe and Asia for spot LNG supply. This scenario raises the risk of late-winter price spikes if European stocks dwindle and Asia has largely utilized its demand-side flexibility. Timera Energy's analysts forecast that if the Hormuz Strait remains closed through Q4 2026 and only gradually reopens in Q1 2027, late-winter price pressures could become more pronounced for Europe.",
  "summary": "Europe’s benchmark natural gas prices remain close to their highest levels since the end of 2022 as the lack of LNG supply from Qatar compounds the EU problem of filling depleted storage sites ahead of the winter. The front-month price at the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, fell by 1% as of 9 a.m. Amsterdam time on Thursday, amid a slide in crude oil…",
  "key_points": [
    "Europe's gas prices near 2022 highs due to limited LNG supplies",
    "TTF price at $96.56/mWh, highest since December 2022",
    "Middle Eastern LNG flows 80% lower than previous year"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}