Europe faces another year of high gas prices as storage reserves hit lows

European gas prices have risen more than 150% this year, with shipping disruptions through the Strait of Hormuz trapping almost 20% of global LNG exports from Qatar and the UAE, most of which are destined for Asia.

Analysts expect European gas storage to reach 75‑78% capacity by November 1, the end of the restocking season, and forecast a drop to around 20% by early April, creating pressure to refill in 2027.

Consumers will feel the impact of the price rally in 2027, as Verivox reports a 55% rise in gas tariffs this year, and analysts predict 10‑20% increases in the coming months.

Read the full story at whtc.com.