KATHMANDU, March 3: Following Qatar’s suspension of gas production, European gas prices have surged by 45 percent.
Qatar Energy, the country’s major energy company, halted liquefied natural gas production at its two main processing plants after the Iranian attack, leading to the price hike from Monday.
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According to the Dutch TTF Natural Gas contract, a key benchmark for European gas, prices jumped by nearly 45%, exceeding €46 per unit, following fears of supply disruptions in the Gulf due to the Iran conflict. Previously, gas prices had already risen over 20 percent amid concerns over reduced Gulf supply.
