European Gas Prices Surge as Geopolitical Tensions Threaten Supply | 2026 Market Update – News and Statistics

Apr 11, 2026

European natural gas futures opened higher on Tuesday as markets are awaiting developments in Iran after U.S. President Donald Trump threatened escalation and attacks on Iranian power plants and bridges if a deal is not reached and the Strait of Hormuz not opened by 8 p.m. eastern time today.

The May 2026 contract of the Dutch TTF Natural Gas Futures, the European benchmark for gas trading, opened 3% higher in Amsterdam on Tuesday, with prices trading just above $58 (50 euros) per megawatt-hour.

Since the war in the Middle East launched and the closed Strait of Hormuz trapped about 20% of daily global LNG flows, Europe’s benchmark gas prices have soared by about 55%. On February 27, the day before the U.S. and Israel started bombing Iran, the front-month futures were trading at $37 (32 euros) per MWh.

Europe, where gas storage sites are depleted to levels not seen in years after the winter, faces a tough refill season in the spring and summer as spot LNG prices have soared and Asia is beating Europe for spot supply.

Asia receives about 85% of the LNG supply that applyd to transit the Strait of Hormuz, and while Europe’s direct supply exposure is much lower at about 15%, the price spike threatens to derail the refill season.

No LNG cargo has transited the Strait of Hormuz in over a month, as two vessels carrying Qatari LNG were forced to abandon an attempt to exit the Strait of Hormuz in what would have been the first export of Qatari LNG since the war launched.

Gas prices could spike even more if the war escalates to U.S. strikes on vital Iranian infrastructure and Iranian retaliation and continued closure of the Strait of Hormuz.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND THE AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and its Prospects
1. MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
2. CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
3. MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

Finding New Products to Diversify Your Business
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCTS
4. MOST TRADED PRODUCTS
5. MOST PROFITABLE PRODUCTS FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Export
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trfinishs and Insights into The Industest
1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
2. PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
8. IMPORTS

The Largest Import Supplying Countries
1. IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
9. EXPORTS

The Largest Destinations for Exports
1. EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
11. COUNTRY PROFILES

The Largest Markets And Their Profiles

This Chapter is Available Only for the Professional Edition
PRO
1. 11.1
  Albania
  - Market Size
  - Production
  - Imports
  - Exports
2. 11.2
  Andorra
  - Market Size
  - Production
  - Imports
  - Exports
3. 11.3
  Austria
  - Market Size
  - Production
  - Imports
  - Exports
4. 11.4
  Belarus
  - Market Size
  - Production
  - Imports
  - Exports
5. 11.5
  Belgium
  - Market Size
  - Production
  - Imports
  - Exports
6. 11.6
  Bosnia and Herzegovina
  - Market Size
  - Production
  - Imports
  - Exports
7. 11.7
  Bulgaria
  - Market Size
  - Production
  - Imports
  - Exports
8. 11.8
  Croatia
  - Market Size
  - Production
  - Imports
  - Exports
9. 11.9
  Czech Republic
  - Market Size
  - Production
  - Imports
  - Exports
10. 11.10
  Denmark
  - Market Size
  - Production
  - Imports
  - Exports
11. 11.11
  Estonia
  - Market Size
  - Production
  - Imports
  - Exports
12. 11.12
  Faroe Islands
  - Market Size
  - Production
  - Imports
  - Exports
13. 11.13
  Finland
  - Market Size
  - Production
  - Imports
  - Exports
14. 11.14
  France
  - Market Size
  - Production
  - Imports
  - Exports
15. 11.15
  Germany
  - Market Size
  - Production
  - Imports
  - Exports
16. 11.16
  Gibraltar
  - Market Size
  - Production
  - Imports
  - Exports
17. 11.17
  Greece
  - Market Size
  - Production
  - Imports
  - Exports
18. 11.18
  Holy See
  - Market Size
  - Production
  - Imports
  - Exports
19. 11.19
  Hungary
  - Market Size
  - Production
  - Imports
  - Exports
20. 11.20
  Iceland
  - Market Size
  - Production
  - Imports
  - Exports
21. 11.21
  Ireland
  - Market Size
  - Production
  - Imports
  - Exports
22. 11.22
  Italy
  - Market Size
  - Production
  - Imports
  - Exports
23. 11.23
  Latvia
  - Market Size
  - Production
  - Imports
  - Exports
24. 11.24
  Lithuania
  - Market Size
  - Production
  - Imports
  - Exports
25. 11.25
  Luxembourg
  - Market Size
  - Production
  - Imports
  - Exports
26. 11.26
  North Macedonia
  - Market Size
  - Production
  - Imports
  - Exports
27. 11.27
  Malta
  - Market Size
  - Production
  - Imports
  - Exports
28. 11.28
  Moldova
  - Market Size
  - Production
  - Imports
  - Exports
29. 11.29
  Montenegro
  - Market Size
  - Production
  - Imports
  - Exports
30. 11.30
  Netherlands
  - Market Size
  - Production
  - Imports
  - Exports
31. 11.31
  Norway
  - Market Size
  - Production
  - Imports
  - Exports
32. 11.32
  Poland
  - Market Size
  - Production
  - Imports
  - Exports
33. 11.33
  Portugal
  - Market Size
  - Production
  - Imports
  - Exports
34. 11.34
  Romania
  - Market Size
  - Production
  - Imports
  - Exports
35. 11.35
  Russia
  - Market Size
  - Production
  - Imports
  - Exports
36. 11.36
  San Marino
  - Market Size
  - Production
  - Imports
  - Exports
37. 11.37
  Serbia
  - Market Size
  - Production
  - Imports
  - Exports
38. 11.38
  Slovakia
  - Market Size
  - Production
  - Imports
  - Exports
39. 11.39
  Slovenia
  - Market Size
  - Production
  - Imports
  - Exports
40. 11.40
  Spain
  - Market Size
  - Production
  - Imports
  - Exports
41. 11.41
  Sweden
  - Market Size
  - Production
  - Imports
  - Exports
42. 11.42
  Switzerland
  - Market Size
  - Production
  - Imports
  - Exports
43. 11.43
  Ukraine
  - Market Size
  - Production
  - Imports
  - Exports
44. 11.44
  United Kingdom
  - Market Size
  - Production
  - Imports
  - Exports
45. 11.45
  Liechtenstein
  - Market Size
  - Production
  - Imports
  - Exports
46. 11.46
  Isle of Man
  - Market Size
  - Production
  - Imports
  - Exports
47. 11.47
  Monaco
  - Market Size
  - Production
  - Imports
  - Exports
LIST OF TABLES
1. Key Findings In 2025
2. Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
3. Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
4. Per Capita Consumption, by Countest, 2022–2025
5. Production, In Physical Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
6. Imports, In Physical Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
7. Imports, In Value Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
8. Import Prices, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
9. Exports, In Physical Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
10. Exports, In Value Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
11. Export Prices, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
LIST OF FIGURES
1. Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
2. Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
3. Consumption, by Countest, 2025
4. Market Volume Forecast to 2035
5. Market Value Forecast to 2035
6. Market Size and Growth, By Product
7. Average Per Capita Consumption, By Product
8. Exports and Growth, By Product
9. Export Prices and Growth, By Product
10. Production Volume and Growth
11. Exports and Growth
12. Export Prices and Growth
13. Market Size and Growth
14. Per Capita Consumption
15. Imports and Growth
16. Import Prices
17. Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
18. Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
19. Production, by Countest, 2025
20. Production, In Physical Terms, by Countest: Historical Data (2012–2025) and Forecast (2026–2035)
21. Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
22. Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
23. Imports, In Physical Terms, By Countest, 2025
24. Imports, In Physical Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
25. Imports, In Value Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
26. Import Prices, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
27. Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
28. Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
29. Exports, In Physical Terms, By Countest, 2025
30. Exports, In Physical Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
31. Exports, In Value Terms, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)
32. Export Prices, By Countest: Historical Data (2012–2025) and Forecast (2026–2035)