European Gas Prices Ease on Hopes of Resumed Qatari LNG Exports

2026-07-30 01:06 By Judith Sib-at 1 min. read

European natural gas prices fell below €60 per MWh on Thursday, giving back part of the previous session’s gains after reports that a Qatari LNG tanker had successfully exited the Strait of Hormuz, raising hopes that exports from one of the world’s largest LNG suppliers could gradually resume.

It was the first such vessel reported to have left the waterway since one of Qatar’s tankers was attacked more than three weeks ago.

However, concerns over the security of shipping through the strait persist amid renewed fighting in the region.

President Donald Trump pledged a strong response after Iran attacked US bases in Jordan, following joint strikes by Saudi Arabia and Washington against Iran-backed militias in Iraq.

Earlier this week, QatarEnergy extended its force majeure for European and Asian customers, intensifying competition between the two regions for available LNG cargoes.

Heatwaves across Europe also boosted electricity demand, slowing the pace of gas storage replenishment.



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