Rabobank Sees Elevated European Gas Prices Through 2027

Rabobank's research team has increased its forecast for the TTF (Title Transfer Facility) price to €72/MWh for Q4 2026, citing prolonged Hormuz disruptions and lower European storage levels. This comes on top of low Qatari LNG supply than initially expected.

The bank warns that if further infrastructure curtailments occur, gas prices could jump into the €50-€60/MWh range for much of next year. According to Rabobank, only such an event would drive TTF and JKM (Japan Korea Marker) markets back into price ranges last seen in 2022.