21:10 13 January 2026
Gas prices rising sharply in Europe
European gas prices have surged sharply, rising by more than 7%, driven by forecasts of colder weather over the next two weeks in both Europe and Asia. Benchmark gas contracts in Amsterdam (ICE Dutch TTF) climbed to €32.40 per MWh, marking a 14% increase over the last three sessions. Analysts warn that a cold snap could significantly boost gas demand.
EU gas storage levels are currently at 54.9%, well below the five-year average of nearly 70%, with inventories totaling about 627 TWh, according to Gas Infrastructure Europe. At the same time, demand is rising in China, the world’s largest LNG buyer, which could reduce LNG supplies to Europe — already heavily reliant on LNG after losing Russian pipeline gas. Some Chinese buyers, such as Unipec, are reselling cargoes, partially easing pressure on the global market.
