h European Natural Gas Monitor — Energy Focus 2026
ACTIVE CRISIS — US / Israel × Iran War (Feb 28, 2026): TTF €52.00/MWh (+67.74%) · EU storage 29.00% (5-yr low) · Qatar LNG force majeure · Hormuz closed · Multiple European states at risk
GAS CRISIS
TTF Spot€52.00▲ +67.74%
EU Storage29.00%5-yr low
Qatar LNGOFFLINEforce majeure
NBP (UK)£48.50▲ +55.20%
GS Warn. Level€74.00/MWh
Brent Crude$101.00â–² +44.29%
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Country Gas Profiles — All European Countries

Production · Consumption · Russian Gas % · LNG Access · Vulnerability bcm/yr = billion cubic metres per year
CountryProd.(bcm)Cons.(bcm)Self-SufficiencyRussian Gas %LNG AccessStorageVulnerability
Production vs Consumption (Top 20)bcm/yr
Russian Gas Dependency% of national supply from Russia

Supply Origins & Route Status

Europe Combined Gas Supply Mix 2025% baseline by origin
Pipeline & LNG Route StatusMarch 23, 2026
Supply Stack by Country% portfolio breakdown per country

Price Timeline & Supply Gap Analysis

TTF Natural Gas Price Timeline€/MWh · Feb 24 – Mar 23, 2026
LNG Supply Gap Waterfallbcm/month — Qatar loss vs offsets vs net gap
Country Cost Shock — Monthly Gas Import Bill (Top 20 importers)Pre-war €31.00/MWh vs current €52.00/MWh · +67.74% price shock
CountryNet Import (bcm/yr)Pre-War /moCurrent /moExtra BillShockRisk Flag

Storage Levels & Strategic Infrastructure

Gas Storage Levels% working gas volume — March 23, 2026
Storage TrajectoryEU avg fill — 5yr avg · 2025 · 2026 actual · crisis projections
Key LNG & Pipeline InfrastructureMajor European terminals & corridors
Summer 2026 Refill FeasibilityEU 90% Dec target vs crisis-scenario achievable level

Four-Scenario Framework — Hormuz Disruption × European Gas

Scenarios — Goldman Sachs · HSBC · Oxford Economics · IEA · EmberMarch 2026 consensus
TTF Forecast by Scenario€/MWh · Q2–Q4 2026
EU Storage End-State by Scenario% December 2026 · 90.00% EU regulatory target
Country Impact Matrix (Key Countries)All 4 scenarios
CountrySc.1 — Quick (≤4wk)Sc.2 — Extended (8wk)Sc.3 — Prolonged (4mo)Sc.4 — Severe (6mo+)Key Risk Factor

Cross-Border Natural Gas Physical Flows — ENTSOG Transparency Platform

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European Gas Flow Map GWh/day · Physical flows at cross-border interconnection points
Top 20 Cross-Border FlowsGWh/day — ranked by volume
FromToPoint NameFlow (GWh/d)Utilization
Net Flow by CountryGWh/day — positive = net exporter, negative = net importer
⏰ Auto-update schedule: Briefs generated at 10:00 CET (pre-market open) and 16:00 CET (post-market close). Click Refresh Now for immediate on-demand generation. All prices quoted to 2 decimal places.
🔥 European Natural Gas — Daily Intelligence Brief
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