German Gas rose to 36.90 EUR/MWh on January 30, 2026, up 1.23% from the previous day. Over the past month, German Gas's price has risen 22.98%, but it is still 31.78% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.

Historically, Germany Natural Gas THE reached an all time high of 58.86 in February of 2025. This page includes a chart with historical data for Germany Natural Gas THE. Germany Natural Gas THE - data, forecasts, historical chart - was last updated on February 2 of 2026.

Germany Natural Gas THE is expected to trade at 37.74 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 42.32 in 12 months time.



Price Day Month Year Date
UK Gas 82.10 -13.0956 -13.76% 15.90% -37.02% Feb/02
Ethanol 1.59 -0.0300 -1.85% 0.16% -10.04% Jan/30
Naphtha 561.36 -0.22 -0.04% 14.95% -13.59% Jan/30
Propane 0.66 0.01 1.99% 3.93% -26.23% Jan/30
Uranium 99.25 -2.3000 -2.26% 21.56% 39.10% Jan/30
Methanol 2,210.00 -50.00 -2.21% 0.87% -15.33% Feb/02
German Gas 36.90 0.45 1.23% 22.98% -31.78% Jan/30
Urals Oil 56.76 -2.24 -3.80% 12.53% -19.05% Jan/30


Germany Natural Gas THE
The Trading Hub Europe (THE) index is an index reflecting the price of natural gas at the German virtual trading point, serving as a reference for the country. The index is compiled by the European Energy Exchange (EEX) based on prices of traded contracts and their volumes. Prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
36.90 36.45 58.86 28.16 2024 - 2026 EUR/MWh daily

News Stream
German Natural Gas Futures Bounce Back to 7-Month High
German natural gas futures rebounded to above €40/MWh, moving back toward the highest level since June 2025, as low storage levels and colder weather expectations intensified supply concerns. Europe’s gas inventories are around 44% full, close to the lowest for this time of year since 2022, with Germany even tighter at about 35.1% after strong heating demand. Also, recent disruptions to US LNG supply tightened availability for Europe, which sourced more than half of its LNG from the US last year. Freeport LNG in Texas reduced feedgas over the weekend and is discussing possible cargo rescheduling with buyers despite a gradual recovery in flows. EU officials have warned about growing dependence on US LNG and are seeking alternative suppliers. Geopolitical risks added to the bullish tone after President Donald Trump warned Iran to reach a nuclear deal or face military strikes, raising fears of potential disruptions to LNG and oil shipments through the Strait of Hormuz.
2026-01-29
German Natural Gas Futures Edge Down
German natural gas futures fell below €40 per megawatt-hour, tracking the TTF benchmark, as markets assessed the pace of US production recovery and the potential for further extreme cold. In the US, warmer forecasts and the gradual return of frozen wells have slightly boosted output, while LNG export flows remain low, with feedgas set to rise to 13.7 bcfd on Tuesday after falling to a one-year low of 11.6 bcfd on Monday. TTF prices continue to trade at a healthy premium to Asian LNG to attract cargoes to Europe. Rapid withdrawals amid cold weather have pushed EU storage below 45%, compared with 56.2% a year ago, with Germany at 36.8%, down from 58.4%. Looking ahead, forecasts call for colder conditions until February 6 and milder weather from February 8-18, while north-west European wind generation is expected above normal until February 4 before dropping below normal through at least February 10.
2026-01-27
German Natural Gas Futures Hover at 7-Month High
German natural gas futures hovered near €39/MWh, the highest since June, as rapid storage withdrawals in recent weeks tightened the supply outlook. Fuel inventories have been drawn down quickly, raising concerns over the region’s fragile supply balance ahead of another expected cold spell across Europe in the coming days. Continental European gas storage has fallen to about 48.4% full, well below roughly 59.3% at the same time last year, while German storage is even lower at around 40.5%. Also, US gas flows were diverted from LNG export facilities to meet strong domestic demand during an Arctic blast, while colder weather in Asia intensified competition for LNG cargoes. However, geopolitical risk premiums eased after President Donald Trump said he would refrain from imposing tariffs on European countries opposing his plans to take control of Greenland. Trump added that a framework for a future deal had been discussed following a meeting with NATO Secretary General Mark Rutte.
2026-01-22