HIBAPRESS – Abdellatif Baraka
European energy markets are preparing for a potential rise in natural gas prices of up to 50 percent, amid escalating supply disruptions and increased geopolitical risks on vital sea lanes.
This rise comes after warnings from energy companies about the impact of the decline in liquefied natural gas shipments from Qatar's gas terminal, which is one of the main suppliers to Europe, due to logistical pressures and changes in maritime shipping routes resulting from tensions in the Strait of Hormuz and the Red Sea. Experts confirmed that this shift has driven major shipping companies to redirect gas tankers through longer routes, leading to higher transportation costs and disruption of supply schedules. According to preliminary estimates, these combined factors may push gas prices in the European market to record levels in the coming weeks. Qatar's gas terminal is one of the main pillars for securing the needs of some European countries, as it provides liquefied natural gas supplies at relatively competitive prices. However, any restrictions on production or shipments could have a direct impact on energy and electricity prices on the old continent. This increase is expected to reflect on consumer prices and industrial electricity, increasing pressure on inflation rates and affecting the purchasing power of European citizens, and this situation will also enhance the need to diversify energy sources, whether by utilizing liquefied natural gas from other regions, or accelerating reliance on renewable energy. In light of the continuation of these disruptions, the biggest challenge for Europe remains to ensure the stability of gas supplies and reduce dependence on sensitive sea lanes and individual sources, thereby protecting its economies from sudden energy shocks.
