Sharp increase in natural gas prices

As the danger of a regional war in the Middle East increases, natural gas prices are rising along with oil.

Indicative futures prices at TTF, Europe’s deepest virtual natural gas trading point, based in the Netherlands, rose by 6.1 percent today.

The increase in natural gas prices in Europe has reached 35 percent in the 13 days since October 7, when Hamas attacked Israel.

THE RISK OF IRAN AND HORUZ

The deactivation of a large field in the Mediterranean that supplies gas to Egypt and the emergence of concerns about this country’s liquefied natural gas (LNG) exports, as well as the increasing risks that Iran could become involved in conflicts, are effective in the increase in prices.

The risk of Iran’s involvement also raises security concerns for the Strait of Hormuz and the oil pipelines, through which Qatar’s LNG vessels pass.

Before winter, the price of a thousand cubic meters of natural gas in Europe amounted to $590.

TTF prices are also taken into account in natural gas imports from Turkey.