Naturgy Energy Group SA

NTGY: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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As European Gas Prices Surge Because of Iran War, We Favor Naturgy

Tancrede Fulop

Mar 2, 2026

European TTF gas prices jumped by 36% on March 2 to EUR 43/megawatt-hour after Qatar Energy halted LNG production following the targeting of the world's largest export facility, Ras Laffan, by an Iranian drone attack. This sent the German April forward power price up by 18%.

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Naturgy Energy Group SA

As European Gas Prices Surge Because of Iran War, We Favor Naturgy

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