Natural gas price in European exchanges stays high, amid regional situation

The natural gas price on European exchanges stays high. The Energocom company emphasized that prices were mainly influenced by the geopolitical situation in the Middle East, the level of European storage reserves and fluctuations in liquefied natural gas flows to Europe.

Today, September 21, 2026, the TTF (Title Transfer Facility) price stood at 77.31 euros/MWh. Over the past week, the price recorded more fluctuations: from 82.57 euros/MWh on September 14, it fell to 76.35 euros/MWh on September 17, before rising again to 79.52 euros/MWh on September 18.

According to Energocom, developments continue to be influenced by the geopolitical situation in the Middle East. Risks related to transport through the Strait of Hormuz remain high, but indications of a possible gradual reopening of maritime routes and the resumption of some energy flows have partially eased pressure on prices, the institution said.

Another factor is the level of European storage reserves. Storage facilities in the European Union are approximately 69 per cent full, compared with an average of almost 85 per cent over the past five years. In Germany, storage levels stand at around 56 per cent, keeping the market sensitive ahead of the cold season.

The market is also influenced by fluctuations in liquefied natural gas (LNG) flows to Europe, reduced supply from Norway and competition with Asia for available cargoes. At the same time, falling oil prices and diplomatic signals from the region contributed to price corrections in TTF quotations on certain days.

Meanwhile, prices for the coming months stay high. For deliveries from October 2026 to February 2027, prices stand at around 76–77 euros/MWh, while deliveries for March 2027 are priced at approximately 73 euros/MWh. Thus, the market continues to include in the price the risks concerning the supply throughout the cold season.