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International Business Times UK

Business

Akshay Puri

Qatar LNG Halt Triggers 70% Spike in European Gas Prices as Energy Security Concerns Rise

European Union Qatar Europe Gas Prices QatarEnergy Natural Gas Asia United States

With storage at just 30% and key LNG flows disrupted, Europe faces renewed supply anxiety. (Credit: AFP News)

European natural gas prices have undergone a violent repricing, with benchmark Dutch TTF futures surging 70% since the close of trading on Friday, 27 February 2026.

The market turmoil was ignited by an official announcement from QatarEnergy confirming a total suspension of liquefied natural gas (LNG) production. The state-owned giant cited 'military attacks' on its primary operational hubs in Ras Laffan Industrial City and Mesaieed Industrial City as the cause for the shutdown.

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