by Eurolng.com Staff
European natural gas prices: weekly review and impact on ssLNG
21–27 September 2026 | TTF and the small-scale LNG market
Over the past week the European TTF benchmark corrected lower but remains elevated. For the small-scale LNG market this means continued pressure on end-user prices and a preference for formula-based contracts.
1. TTF dynamics over the week
| Indicator | Value | Comment |
|---|---|---|
| Start of week (20–21 Sep) | ~€80/MWh | Elevated level |
| Week low | ~€70–72/MWh | 25 September |
| End of week (27–28 Sep) | ~€73–74/MWh | Correction −7–8% |
| Weekly range | €70–76/MWh | High volatility |
Main drivers:
- Hopes of a possible reopening of the Strait of Hormuz / US–Iran talks — downward pressure;
- Concerns over Qatari LNG supplies and competition with Asia — price support;
- EU gas storage at about 71% (below normal).
2. Impact on the small-scale LNG market
| Factor | Impact on small-scale LNG |
|---|---|
| High TTF (~€73–74) | End-user ssLNG prices stay high. “TTF + premium” formulas make the product expensive for off-grid customers |
| 7–8% weekly decline | Limited relief for buyers. Scope to improve competitiveness versus fuel oil/LPG |
| Volatility | Makes fixed-price contracts harder. Suppliers prefer TTF-linked formulas with a coefficient |
| Competition with grid gas | When TTF is high, grid gas is also expensive — off-grid demand holds |
| Bio-LNG | The bio premium becomes more sensitive; customers are more cautious about switching to Bio-LNG |
High wholesale prices squeeze distributors’ margins, especially under semi-fixed contracts with end customers.
3. Conclusion
European gas prices corrected from around €80 to €73–74/MWh over the week but remain historically elevated. For the ssLNG market this means continued pressure on end-user prices, a preference for formula contracts (TTF + premium/coefficient) and only moderate improvement in competitiveness versus fuel oil if TTF falls further.
Customers remain cautious about switching to Bio-LNG while the base TTF stays above €70/MWh.