Europe Gas Near 2022 High as Hormuz LNG Stays Choked

· Oil & Gas · Netherlands · Pakistan

Europe's benchmark natural gas prices remain close to their highest levels since late 2022, as the lack of LNG supply from Qatar compounds the EU's difficulty filling depleted storage sites before winter. The front-month price at the Dutch TTF hub, the benchmark for European gas trading, is being driven by the continued disruption of Qatari and UAE LNG flows through the Strait of Hormuz. The squeeze is spreading: Pakistan's state LNG importer warns of potential winter shortages if Hormuz LNG remains choked, while Bulgaria's prime minister has broken ranks with EU criticism over a Trump-Putin diesel deal, citing high fuel prices.

Why it matters：With Qatari and UAE volumes still blocked, gas and LNG buyers from Europe to South Asia face a winter of tight supply, making Hormuz flows the key variable for global energy prices.

Key points

  • Dutch TTF front-month prices remain near post-2022 highs.
  • Qatari and UAE LNG flows through Hormuz are still severely disrupted.
  • Pakistan LNG warns of winter shortages if the disruption continues.

Sources (original reporting)

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