# Europe's gas prices surge but who will cut consumption? Kemp

> Record natural gas prices across Europe signal an urgent need to reduce consumption and rebuild inventories to lower the risk of supply shortfalls this winter. Policymakers are weighing how to limit price increases while guaranteeing supply for politically sensitive users.

- Date: 2021-09-24 · published 2021-09-24T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/7929-europe-s-gas-prices-surge-but-who-will-cut-consumption-kemp
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Record European gas prices and the push to curb demand raise energy and fertilizer costs globally, supporting feed input prices. Policy intervention could also shift demand and LNG flows, adding volatility to energy markets.

## Read by commodity

- UREA: bullish ▲
- NATGAS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2021-10-06 | 5 | +31.3% | 5.7 | Record European gas prices raised nitrogen production costs and prompted output cuts. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-10-05 | [Gas price surges to a record high in Europe on supply concerns](https://feedsoft.ai/events/44766-gas-price-surges-to-a-record-high-in-europe-on-supply-concerns.md) | -6.6% | -10.0% |
| NATGAS | 2024-11-25 | [LNG is stepping up to solve Europe gas woes, but at a price](https://feedsoft.ai/events/27593-lng-is-stepping-up-to-solve-europe-gas-woes-but-at-a-price.md) | +14.0% | +18.4% |
| NATGAS | 2020-06-30 | [TTF gas prices \| European Gas Hub](https://feedsoft.ai/events/52801-ttf-gas-prices-european-gas-hub.md) | +7.6% | +7.4% |
| NATGAS | 2021-09-24 | [Worldwide energy shortage shows up in surging coal, gas and oil prices: Kemp](https://feedsoft.ai/events/7927-worldwide-energy-shortage-shows-up-in-surging-coal-gas-and-oil-prices-kemp.md) | +15.4% | +1.4% |
| NATGAS | 2020-08-31 | [Natural gas prices \| European Gas Hub](https://feedsoft.ai/events/51817-natural-gas-prices-european-gas-hub.md) | -15.6% | -23.3% |
| UREA | 2021-10-05 | [Gas price surges to a record high in Europe on supply concerns](https://feedsoft.ai/events/44766-gas-price-surges-to-a-record-high-in-europe-on-supply-concerns.md) | +6.2% | +11.5% |
| UREA | 2026-10-28 | [European natural gas prices soar: What it means for your winter bills](https://feedsoft.ai/events/625-european-natural-gas-prices-soar-what-it-means-for-your-winter-bills.md) | -1.3% | — |
| UREA | 2022-08-31 | [European Fertilizer Production Falls Due to High Gas Prices 31.08.2022 - UkrAgroConsult](https://feedsoft.ai/events/40340-european-fertilizer-production-falls-due-to-high-gas-prices-31-08-2022.md) | -6.8% | -5.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/europes-gas-prices-surge-who-will-cut-consumption-kemp-2021-09-23/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.