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LNG 101: How Europe’s Carbon Market Drives Demand for Natural Gas Imports European carbon prices have soared in 2021, reaching heights not seen since the continent’s emissions trading system (ETS) was established in 2005 and signaling what could be a longer-term trend across a region looking to further tighten climate regulations. Carbon prices hit a record by crossing the 50 euros per metric ton mark in early May. They have continued to trade around 50 euros since in what’s proved to be a boon for natural gas demand, along with other market fundamentals that have combined to support prices for the fuel in Europe. ....