TTF Gas fell to 33.43 EUR/MWh on June 27, 2025, down 0.20% from the previous day. Over the past month, TTF Gas's price has fallen 8.48%, and is down 3.11% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on June of 2025.

The average monthly price for natural gas in the United States amounted to 4.13 nominal U.S. dollars per million British thermal units (Btu) in March 2025. By contrast, natural gas prices in Europe were about three times higher than those in the U.S. Prices in Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over 70 U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than 60 percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than one trillion cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

The report covers Europe Natural Gas Market Analysis and it is segmented by Sector (Upstream, Midstream, and Downstream), Location of Deployment (Onshore, Offshore), and Geography (United Kingdom, Norway, Netherlands, Germany, and the Rest of Europe). The report offers the market size and forecasts for Europe's natural gas market in revenue (USD Billion) for all the above segments.

Graph and download economic data for Global price of Natural gas, EU (PNGASEUUSDQ) from Q1 1990 to Q1 2025 about EU, gas, World, Europe, and price.

The consumption of natural gas in the European Union has fluctuated since 1998. It increased to a peak of ***** billion cubic meters in 2010, but by 2022 had fallen to around ***** billion cubic meters. Natural gas consumption in the EU was only lower than oil consumption, despite the overall decrease. Production of natural gas in decline Although the consumption of natural gas is expected to increase across the region, production in the EU has fallen significantly over the past two decades. By 2021 had fallen by approximately ** percent. EU reliant on Russian exports With the production of natural gas in decline, the EU is expected to become more reliant on international imports. Overall, there was a six percent increase of imports in 2019 when compared to the previous year. Currently, the main exporter of gas to the EU is Russia, who in 2017 exported ** percent of all imports. Plans for a 746-mile gas pipeline from Russia to Germany in the Baltic Sea are set to go ahead. The Nord Stream 2 project has received critics from the US and EU over fears it will increase Europe’s reliance on gas imports from Russia.

Graph and download economic data for Global price of Natural gas, EU (PNGASEUUSDM) from Jan 1990 to May 2025 about EU, gas, World, Europe, and price.

LNG has become the main source of primary gas supplied to OECD Europe. In 2023, LNG imports accounted for 37 percent of all natural gas brought to the region. As many European countries are looking for alternatives to Russian piped gas, the LNG market has grown in importance and the region has become the largest destination for U.S. LNG.

According to a February 2025 forecast, Europe's consumption of natural gas is expected to reach 414 billion cubic meters in 2030. This would be a decrease of some eight percent compared with 2024 levels.

Natural gas producers are facing turbulent times. Europe has traditionally relied on Russia and Norway as internal sources of natural gas, while countries such as the US, Qatar and Algeria are major sources of imports (although accounting for a much smaller share of overall consumption). Russia’s invasion of Ukraine has shaken up Europe’s natural gas supply structure, with European governments making efforts to reduce their dependence on Russian gas supplies. Revenue is forecast to swell at a compound annual rate of 16.2% to €113.9 billion over the five years through 2025. Revenue expanded in 2021 and 2022 as a sharp hike in natural gas prices and a post-pandemic rise in demand drove an increase in exploration and production activity. Russia’s invasion of Ukraine led to a spike in natural gas prices, with the impacts of reduced demand for gas and a decrease in Russian gas production outweighed by soaring wholesale prices and heightened demand for other natural gas reserves, spurring a jump in revenue. An ongoing reduction in demand for natural gas and easing prices caused revenue to dip in 2023 and 2024. In 2025, revenue is slated to bounce back by 53.3% owing to geopolitical uncertainties, including trade wars and fresh sanctions on Russia, buoying natural gas prices. Revenue is forecast to rise at a compound annual rate of 2.3% over the five years through 2030 to just under €128 billion. The gas market will continue to be shaped by geopolitical tensions into the medium term, with the International Energy Agency expecting natural gas prices to remain high until 2025 as countries continue to shift their supply structure. Following this, natural gas demand and prices are set to fall as Europe continues to expand its renewables capacity.

Germany has the largest import volume of natural gas among European countries. In 2022, Germany bought roughly 87.7 billion cubic meters of natural gas from outside trading partners. This was followed by Italy, which imported 72.6 billion cubic meters worth. That year, overall natural gas imports into the region increased as economic activity in many countries recovered. Where is natural gas imported from? Natural gas may be imported either in its gaseous state via pipelines or as LNG (liquefied natural gas). The European continent has primarily relied on imports via pipelines from large producing neighbors such as Russia. However, with the outbreak of the Russia-Ukraine war and sanctions imposed on Russian energy imports, supply routes have shifted. Although Russian gas dependence remains high, particularly in Eastern European countries, expansion of LNG infrastructure has allowed for Europe to become the main destination for LNG from the United States. Within the span of one year, LNG imports from the U.S. had doubled in multiple European countries. Production declines as consumption remains high The European Union’s production of natural gas has been in decline for decades, and by 2022 fell to a low of 41 billion cubic meters. In comparison, natural gas consumption remains comparatively high, with the fossil fuel largely used for heating, electricity generation, and industrial purposes.

The European natural gas market, valued at approximately €[Estimate based on "Market size XX" and currency conversion, e.g., €500 billion] in 2025, is projected to experience robust growth, exceeding a 5% Compound Annual Growth Rate (CAGR) through 2033. This expansion is fueled by several key drivers. Firstly, the ongoing energy transition necessitates a shift towards cleaner energy sources, though natural gas serves as a crucial bridging fuel in the short-to-medium term. Secondly, increasing industrialization and population growth across Europe consistently elevate demand. Finally, geopolitical instability continues to influence energy security concerns, leading to a diversification of supply sources and bolstering investments in domestic gas infrastructure and storage capacity. However, challenges exist. Stringent environmental regulations aiming to reduce greenhouse gas emissions impose constraints on the industry's expansion. Furthermore, the intermittent nature of renewable energy sources necessitates reliable backup power generation, which in turn increases the demand for natural gas. Finally, the fluctuating price of natural gas and its vulnerability to global market volatility creates uncertainty for long-term investment planning. Segment analysis reveals significant variations in production, consumption, import, and export patterns across European nations. Countries like Norway and the Netherlands are major producers, while nations like Germany and the United Kingdom are significant consumers heavily reliant on imports. Price trends indicate a complex interplay of supply and demand, influenced by seasonal variations, geopolitical developments, and economic factors. The competitive landscape includes a mix of multinational energy giants such as Chevron, BP, Shell, and TotalEnergies, alongside national energy companies. Their strategies focus on optimizing production, securing supply chains, and adapting to changing regulatory frameworks and evolving consumer preferences. The forecast suggests the European natural gas market will continue its upward trajectory, driven by sustained demand and strategic investments, despite the hurdles posed by environmental regulations and price volatility. The market's future will depend largely on the successful balance between meeting energy needs, reducing carbon footprint, and ensuring energy security. Recent developments include: In September 2022, the German government announced a USD 65 billion plan to help people and businesses cope with soaring prices. Several European nations introduce emergency measures to prepare for a long winter in the wake of disruption in Russian gas supplies to Europe following the Ukraine war., In March 2022, Equinor announced plans to increase gas supply to meet European demands. Increased production permits issued by the Ministry of Petroleum and Energy allow Equinor to maintain high production levels at its Troll, Oseberg, and Heidrun gas fields. Following these permits, the Oseberg and Troll fields will increase exports by around one billion cubic meters (bcm), while the Heidrun field aims to increase gas exports by 0.4bcm for the 2022 calendar year.. Notable trends are: Upstream Sector to Witness Significant Growth.

Europe Natural Gas Liquids market will be USD 5262.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. The growing need for NGLs in the manufacture of synthetic materials and fibers is expected to aid the sales to USD 7295.4 million by 2031

The ``European Natural Gas Demand'' (ENaGaD) database is composed of daily time series of the national demand of natural gas for each of the 25 European Member States with a transmission system and some European Countries. The series are compiled and presented from 2015 to 2020 in energy unit of measurement. Values are mainly collected from the transparency platform of National Transmission System Operators in compliance to Regulation (EC) No 715/2009. Whenever possible, the daily demand is further divided in consumption by electricity and heat producers, consumption by industrial users and by households. The ENaGaD database is also available from the Joint Research Centre Data Catalogue at https://data.jrc.ec.europa.eu.

The average for 2023 based on 43 countries was 0.722 quadrillion Btu. The highest value was in Russia: 23.271 quadrillion Btu and the lowest value was in Belgium: 0 quadrillion Btu. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

This dataset contains natural gas exports by Europe & Eurasia from 2010-2023. Data from CORES. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: '^ greater than 0

This dataset contains natural gas imports by Europe & Eurasia countries from 2004-2023. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: CORES uses GWh as unit of measure for Natural Gas.

European Union Natural Gas Inland Consumption: EU 27 data was reported at 53,779.000 Cub m mn in Dec 2019. This records an increase from the previous number of 49,255.000 Cub m mn for Nov 2019. European Union Natural Gas Inland Consumption: EU 27 data is updated monthly, averaging 36,173.500 Cub m mn from Jan 2014 (Median) to Dec 2019, with 72 observations. The data reached an all-time high of 67,421.000 Cub m mn in Jan 2017 and a record low of 22,448.000 Cub m mn in Aug 2015. European Union Natural Gas Inland Consumption: EU 27 data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.RB013: Natural Gas Supply and Consumption: by Cubic Meter.

European Natural Gas Production by Country, 2023 Discover more data with ReportLinker!

European Union Natural Gas Supply: EU 27E: Imports data was reported at 39,005.996 Cub m mn in Mar 2025. This records an increase from the previous number of 35,056.351 Cub m mn for Feb 2025. European Union Natural Gas Supply: EU 27E: Imports data is updated monthly, averaging 50,808.000 Cub m mn from Jan 2014 (Median) to Mar 2025, with 135 observations. The data reached an all-time high of 63,152.110 Cub m mn in May 2019 and a record low of 31,886.522 Cub m mn in Sep 2023. European Union Natural Gas Supply: EU 27E: Imports data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.RB: Natural Gas Supply and Consumption: by Cubic Meter. [COVID-19-IMPACT]

Graph and download economic data for Global price of Natural gas, EU (PNGASEUUSDA) from 1990 to 2024 about EU, gas, World, Europe, and price.