CommoditiesMedium•14 October 2026•
1 min read
European Natural Gas Prices Surge to Highest Levels Since 2023
Key Facts
1European 1-month TTF natural gas futures surged to 86.81 EUR/MWh, reaching their highest level since 2023.
2Rabobank highlighted Europe's growing reliance on LNG amid the planned phase-out of Russian gas by 2027.
3October saw weaker LNG exports from the Middle East and softer LNG arrivals into Europe.
European 1-month TTF natural gas futures surged to 86.81 EUR/MWh, reaching their highest level since 2023. FXStreet reported that the price action follows a decline in LNG exports from the Middle East during October, which resulted in softer arrival volumes at European terminals.
Rabobank highlighted Europe's growing reliance on LNG as the region moves toward a planned phase-out of Russian pipeline gas by 2027. This structural shift in energy sourcing, combined with tighter global supply dynamics, has extended the 2026 rally in European natural gas markets as supply concerns persist.