TTF Gas Price Surges as EU Storage Lags

The Dutch Title Transfer Facility (TTF) gas price has reached its highest level since 2022, breaching €80/MWh and holding at €79.21 on September 9, 2026.

This surge is largely due to the EU's lagging gas storage levels, which are currently at 67% capacity, 17 percentage points below the five-year average ahead of winter.

As a result, European buyers are being forced to purchase spot TTF prices, increasing costs and narrowing margins for gas-intensive manufacturers and utilities without enough stored or contracted supply.

The Strait of Hormuz disruption has also played a significant role, with US-Iran fighting blocking LNG shipments through the strait, which previously carried about 20% of global LNG trade.