TTF prices have spiked this week
Supply blows rock European gas market
Russian reductions compound US LNG outage as continent seeks relief in the short and longer term
Russian state-controlled gas firm Gazprom has roiled the European market by announcing two cuts to maximum flow levels through its Nord Stream 1 pipeline this week, citing compressor issues. The supply reductions come on the back of a cut in US LNG export capacity due to a fire at the Freeport LNG export facility on Texas’ Gulf of Mexico coast. The benchmark northwest Europe TTF front-month contract on the Ice exchange jumped by almost 45pc in just two trading days, from €83.40MWh ($86.90/MWh) on Monday to over €130/MWh by the end of Wednesday, before rising further to €145/MWh+ in Thursday morning trade. In the wake of mounting supply concerns, Centrica—the UK’s largest gas utility—has stru
Also in this section
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
13 April 2026
For GCC producers, the ceasefire may prove more destabilising than the war itself: exports remain constrained, and control over Hormuz has shifted in ways that could endure
