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Natural gas prices in the European Union (EU) have risen 18% since the U.S. and Israel attacked Iran on Feb. 28.

The market looks to be further upended after Iran struck a major Middle East liquefied natural gas hub in the region.

Commodities analysts say the current situation should keep global liquefied natural gas, or LNG, prices elevated throughout this year and into 2027.

It could also prove to be a boon for U.S. exporters of LNG such as Cheniere Energy (NYSE: $LNG ),

NextDecade (NASDAQ: $NEXT ), and Venture Global (NYSE: $VG ).

The latest development saw Iran shoot missiles at Qatar's Ras Laffan Industrial City, causing extensive damage to a major natural gas hub that could take years to repair.

European natural-gas prices are now at the equivalent of $71 U.S. per megawatt hour, after rising as high as $85 U.S. earlier in March, a three-year high.

Liquefied natural gas has kept power on in much of Europe and Asia over the past four years, particularly after Russian pipelines were cut off following that country's invasion of Ukraine.

The world does have some LNG in storage, but not the massive strategic government reserves that there are for crude oil, note analysts.

European storage was already low, and Europe will have to buy LNG ahead of next winter, because it's a key fuel for heating homes and businesses.

Meanwhile, U.S. President Donald Trump has warned against further attacks on gas facilities in the Middle East, threatening to "massively blow up the entirety of the South Pars Gas Field" that Iran controls if Tehran strikes another gas plant.