European Gas Prices Jump 35% Amid West Asia Tensions Impacting LNG Supply

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European Gas Prices Soar 35% Amid West Asia Tensions, LNG Supply Fears

The bigger impact is on gas security with the biggest LNG producers stalling production in Qatar due to the ongoing war and as their infrastructure gets hit. The gas crisis has impacted stocks like Petronet LNG, MGL, both of which are down 7% each, along with names like Gujarat Gas, who has cut supply to its industrial customers.

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CNBC TV18•19-03-2026, 14:12

European Gas Prices Soar 35% Amid West Asia Tensions, LNG Supply Fears

•European gas prices surged up to 35% due to escalating tensions in West Asia impacting LNG supply.
•Qatar Energy's Ras Laffan complex, accounting for 20% of global LNG output, sustained extensive damage from recent attacks.
•The attacks raise fears of prolonged disruptions, potentially keeping gas prices elevated across Europe and Asia.
•Europe faces a challenging situation with lower winter storage levels, competing with Asian buyers for limited LNG supplies.
•Outages from Qatar could last months or even years, with impacts persisting even after the conflict subsides.

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