The price of natural gas in Europe has risen due to concerns over tight supplies from the Middle East prompting increased demand for liquefied natural gas.

The price of natural gas in Europe has risen, with the benchmark Dutch TTF natural gas futures contract up 4.2% to 52.06 euros per megawatt-hour. The support for this round of price increase is that European buyers may have to compete for available liquefied natural gas cargoes. JKM continues to have a significant premium over TTF, indicating that spot liquefied natural gas cargoes will be diverted to Asia, according to analysts at the Dutch multinational group. Meanwhile, it is reported that liquefied natural gas suppliers are currently declaring force majeure to customers across Asia after the world's largest export facility in Qatar closed.