London: Fitch Ratings has raised its forecasts for natural gas prices in Europe for 2026-2027 due to disruptions in liquefied natural gas (LNG) supplies from Qatar through the Strait of Hormuz, ‘APA-Economics’ reports. The rating agency anticipates that the Strait of Hormuz will begin reopening around July.
According to Azeri-Press News Agency, restrictions on Qatar’s LNG exports during this period will maintain high prices at the Title Transfer Facility (TTF), Europe’s main gas benchmark. Even with the expected reopening of the strait in July, the agency believes that tensions in the European gas market will persist until the end of 2026.
Fitch Ratings has adjusted its TTF price forecast for 2026 from $424 to $495 per 1,000 cubic meters, and for 2027 from $247 to $318 per 1,000 cubic meters. Despite these changes, the agency has left its price forecast for Henry Hub, the main US gas benchmark, unchanged. This decision is attributed to the limited additional LNG liquefaction capacity in the United States and the inability of local producers to fully capitalize on higher gas prices in other regions.