The natural gas market in Europe entered a new phase after the cessation of Russian gas flows through Ukraine at the beginning of 2025, which led to a redrawing of the supply map and the creation of a sustainable disparity in gas prices between the countries of the continent, according to a report issued by Oxford Institute for Energy Studies (OIES).
The report explained that the end of Russian gas transit pushed larger quantities of gas to northwestern Europe and Poland, which changed supply routes and affected pricing mechanisms within the European market.
He pointed out that the gas trading centers in France, Belgium, the Netherlands and Britain The lowest prices became recorded, while prices gradually increased as supplies headed east, to record Czech Republic, Austria and Slovakia Highest price levels among major markets.
The report pointed out that this disparity is not considered a temporary disturbance, as happened during the energy crisis in 2022, but rather reflects a permanent structural shift in the European gas market, as the price gap between the western and eastern markets has become more stable since April 2025.
The report attributed this shift to increasing reliance on… Liquefied natural gaswhich arrives in Europe through ports and stations in France, Belgium, the Netherlands, and Britain, before being transported to the rest of the countries. As gas moves into Europe, limited transportation and connectivity capabilities between countries lead to a gradual rise in prices.
He pointed out that this pattern began to emerge during the energy crisis in 2022, when liquefied gas imports exceeded the ability of pipeline networks to transport supplies to Eastern Europe, before turning into a more sustainable reality after the transit of Russian gas through Ukraine stopped.
The report added that the rise in oil and gas prices as a result of the US-Iranian conflict in 2026 did not change the price map, as the markets of northwestern Europe remained the least expensive, while the internal markets in the center and east of the continent maintained higher price levels.
On the other hand, the European gas trading market continued to grow, as trading volumes increased by 16% During 2025, exceeding it for the first time 100 thousand terawatt-hours Annually, in an indication of the market’s ability to adapt despite the decline in Russian gas supplies via pipelines.
And the keeper of the Dutch trading post TTF It maintains its position as the main price indicator for gas in Europe, occupying… 81% Of the total trading volumes, while ZTP The Belgian gas market witnessed remarkable growth, driven by the increase in liquefied natural gas imports and the expansion of gas flows from Western to Eastern Europe.
