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 began 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 gets about 85% of the LNG supply that used 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 began.
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
- CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
- MARKET FORECAST TO 2035
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4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
- PRODUCTION BY COUNTRY: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
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8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
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9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012â2025) AND FORECAST (2026â2035)
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition
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11.1
Albania
- Market Size
- Production
- Imports
- Exports
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11.2
Andorra
- Market Size
- Production
- Imports
- Exports
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11.3
Austria
- Market Size
- Production
- Imports
- Exports
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11.4
Belarus
- Market Size
- Production
- Imports
- Exports
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11.5
Belgium
- Market Size
- Production
- Imports
- Exports
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11.6
Bosnia and Herzegovina
- Market Size
- Production
- Imports
- Exports
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11.7
Bulgaria
- Market Size
- Production
- Imports
- Exports
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11.8
Croatia
- Market Size
- Production
- Imports
- Exports
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11.9
Czech Republic
- Market Size
- Production
- Imports
- Exports
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11.10
Denmark
- Market Size
- Production
- Imports
- Exports
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11.11
Estonia
- Market Size
- Production
- Imports
- Exports
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11.12
Faroe Islands
- Market Size
- Production
- Imports
- Exports
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11.13
Finland
- Market Size
- Production
- Imports
- Exports
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11.14
France
- Market Size
- Production
- Imports
- Exports
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11.15
Germany
- Market Size
- Production
- Imports
- Exports
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11.16
Gibraltar
- Market Size
- Production
- Imports
- Exports
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11.17
Greece
- Market Size
- Production
- Imports
- Exports
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11.18
Holy See
- Market Size
- Production
- Imports
- Exports
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11.19
Hungary
- Market Size
- Production
- Imports
- Exports
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11.20
Iceland
- Market Size
- Production
- Imports
- Exports
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11.21
Ireland
- Market Size
- Production
- Imports
- Exports
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11.22
Italy
- Market Size
- Production
- Imports
- Exports
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11.23
Latvia
- Market Size
- Production
- Imports
- Exports
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11.24
Lithuania
- Market Size
- Production
- Imports
- Exports
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11.25
Luxembourg
- Market Size
- Production
- Imports
- Exports
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11.26
North Macedonia
- Market Size
- Production
- Imports
- Exports
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11.27
Malta
- Market Size
- Production
- Imports
- Exports
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11.28
Moldova
- Market Size
- Production
- Imports
- Exports
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11.29
Montenegro
- Market Size
- Production
- Imports
- Exports
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11.30
Netherlands
- Market Size
- Production
- Imports
- Exports
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11.31
Norway
- Market Size
- Production
- Imports
- Exports
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11.32
Poland
- Market Size
- Production
- Imports
- Exports
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11.33
Portugal
- Market Size
- Production
- Imports
- Exports
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11.34
Romania
- Market Size
- Production
- Imports
- Exports
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11.35
Russia
- Market Size
- Production
- Imports
- Exports
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11.36
San Marino
- Market Size
- Production
- Imports
- Exports
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11.37
Serbia
- Market Size
- Production
- Imports
- Exports
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11.38
Slovakia
- Market Size
- Production
- Imports
- Exports
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11.39
Slovenia
- Market Size
- Production
- Imports
- Exports
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11.40
Spain
- Market Size
- Production
- Imports
- Exports
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11.41
Sweden
- Market Size
- Production
- Imports
- Exports
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11.42
Switzerland
- Market Size
- Production
- Imports
- Exports
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11.43
Ukraine
- Market Size
- Production
- Imports
- Exports
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11.44
United Kingdom
- Market Size
- Production
- Imports
- Exports
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11.45
Liechtenstein
- Market Size
- Production
- Imports
- Exports
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11.46
Isle of Man
- Market Size
- Production
- Imports
- Exports
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11.47
Monaco
- Market Size
- Production
- Imports
- Exports
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LIST OF TABLES
- Key Findings In 2025
- Market Volume, In Physical Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Market Value: Historical Data (2012â2025) and Forecast (2026â2035)
- Per Capita Consumption, by Country, 2022â2025
- Production, In Physical Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Imports, In Physical Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Imports, In Value Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Import Prices, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Exports, In Physical Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Exports, In Value Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Export Prices, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
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LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Market Value: Historical Data (2012â2025) and Forecast (2026â2035)
- Consumption, by Country, 2025
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Production, In Value Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Production, by Country, 2025
- Production, In Physical Terms, by Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Imports, In Physical Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Imports, In Value Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Imports, In Physical Terms, By Country, 2025
- Imports, In Physical Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Imports, In Value Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Import Prices, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Exports, In Physical Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Exports, In Value Terms: Historical Data (2012â2025) and Forecast (2026â2035)
- Exports, In Physical Terms, By Country, 2025
- Exports, In Physical Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Exports, In Value Terms, By Country: Historical Data (2012â2025) and Forecast (2026â2035)
- Export Prices, By Country: Historical Data (2012â2025) and Forecast (2026â2035)