Natural gas rose to 3.41 USD/MMBtu on October 7, 2025, up 1.65% from the previous day. Over the past month, Natural gas's price has risen 10.44%, and is up 24.86% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on October of 2025.

Dutch TTF gas futures amounted to ******euros per megawatt hour on September 29, 2025 for contracts with delivery in November 2025. Figures increased compared to the previous week. Dutch TTF is seen as a Europe-wide natural gas price benchmark. Europe more reliant on imports The Groningen gas field is the largest gas field in Europe and the major natural gas source in the Netherlands. In 2014, the first earthquake related to drilling the field occurred, and other seismic activities were also observed. Therefore, the Groningen field has drastically reduced its production output. Since then, natural gas production in the Netherlands has been in a trend of continuous decline. To balance the diminished domestic production, the European market relies on liquefied natural gas imports and pipeline inflow. LNG pricing across European regions The European gas market exhibits regional variations, as evidenced by LNG prices in different parts of the continent. The Southwest Europe LNG price is generally slightly higher than LNG prices in Northwest Europe. The latter reached around ***** U.S. dollars per million British thermal units in mid September 2025.

TTF Gas rose to 33.11 EUR/MWh on October 6, 2025, up 5.32% from the previous day. Over the past month, TTF Gas's price has risen 0.14%, but it is still 19.15% lower than a year ago, 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 October of 2025.

About the ProjectKAPSARC is analyzing the shifting dynamics of the global gas markets, which have turned upside down during the past five years. North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.Key PointsThough Africa is traditionally considered as an exporter of pipeline gas and liquefied natural gas (LNG), in future it could come to be seen as an LNG market. Until recently, financing issues, market conditions, price sensitivity and the small size of the individual gas markets were all strong deterrents to sellers looking at Africa as an LNG destination, even though the region’s per capita energy consumption is very low and there are hundreds of millions without electricity and modern cooking facilities. But now the situation has fundamentally changed because, faced with the slowdown in Asian LNG demand and a global LNG oversupply, sellers are looking for new markets. At the same time, LNG has become more affordable, more flexible and is increasingly sold on a spot basis. So now, gas can be part of the solution to developing Africa’s electricity generation, along with renewables. Most African countries would need small initial volumes to feed the integrated LNG-to-power projects that sponsors are considering. This could lead to a further development of gas demand in other sectors as gas supply becomes available and infrastructure is developed. The majority of countries are opting for floating storage and re-gasification units (FSRUs), enabling faster implementation. The new markets could benefit from the proximity of existing African LNG suppliers, and future projects in Cameroon and Eastern Africa as suppliers optimize shipping distances. The key issues of financing and the role of the state see investors looking for governments to provide regulatory and political clarity to prospective sellers, financial institutions to facilitate access to capital and LNG suppliers that will accept the risk of delivering to these new markets. The choice of pricing mechanism and contract commitment will be key for their viability. The intended gas and power markets for these new LNG projects will only be developed if domestic gas and electricity buyers can secure their offtake liabilities and ability to pay for the energy to the satisfaction of lenders.

Global liquefied natural gas prices have shown less volatility in 2024 and 2025 than the years prior, with the benchmark price reaching ******U.S. dollars per million metric British thermal units in August 2025. This figure represents an increase from the same period a year earlier. The global LNG benchmark, which is largely influenced by Asian market trading, particularly Indonesian LNG in Japan, serves as a key indicator for the industry's pricing trends. Natural gas prices become less volatile The Asian LNG market experienced less turbulence in 2024 compared to the previous year, with price volatility dropping to ** percent. This relative stability followed an exceptionally volatile 2022, when LNG demand surged due to sanctions on Russian imports. The global natural gas price index, which encompasses European, Japanese, and American markets, stood at *******index points in August 2025, showing a slight decrease that month. This trend is also reflected in overall lower crude oil price indices. Landed prices vis-à-vis export prices Due to its geographical location, Japan is exclusively reliant on LNG trading for its natural gas supply. As such, Japan's landed LNG spot price is often higher than for other markets, reaching approximately ***** U.S. dollars per million British thermal units in January 2024. By comparison, the world's largest LNG exporter, the United States, has seen its LNG export prices decrease to **** U.S. dollars per thousand cubic feet in 2024, down from **** U.S. dollars the previous year.

UK Gas rose to 86.06 GBp/thm on October 7, 2025, up 1.04% from the previous day. Over the past month, UK Gas's price has risen 6.22%, but it is still 11.00% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on October of 2025.

Natural gas prices decreased across all major regions in 2024, as supply caught up to higher demand. In Japan, LNG sold for an average of **** nominal U.S. dollars per million British thermal units. Meanwhile, the United States, as the largest natural gas producer worldwide, has significantly lower prices for the fossil fuel. The U.S. has had lower natural gas prices than Europe for much of the past four decades. LNG on the rise LNG is expected to shape much of future natural gas trade. Although pipelines have been the preferred method of transportation for many decades, as Europe shifts away from Russia as its main gas supplier, LNG has become more in demand. The global LNG trade volume has already exceeded *** billion cubic meters per year, and is expected to continue growing. Countries in Asia have some of the highest landed prices for liquefied natural gas worldwide. Natural gas benchmarks Some of the most closely followed natural gas price benchmarks are the U.S. Henry Hub and the Dutch TTF. The former is an important indicator of the state of the natural gas industry in the U.S., while the latter reflects natural gas market developments in Europe and potential repercussions for consumers.

About the ProjectKAPSARC is analyzing the shifting dynamics of the global gas markets. Global gas markets have turned upside down during the past five years: North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.Key PointsIn the past year, global gas prices have dropped significantly, albeit at unequal paces depending on the region. All else being equal, economists would suggest that this should have generated a positive demand response. However, “all else” was not equal. Prices of other commodities also declined while economic growth forecasts were downgraded. Prices at benchmark points such as the U.K. National Balancing Point (NBP), U.S. Henry Hub (HH) and Japan/Korea Marker (JKM) slumped due to lower oil prices, liquefied natural gas (LNG) oversupply and unseasonal weather. Yet, the prices of natural gas in local currencies have increased in a number of developing countries in Africa, the Middle East, Latin America, former Soviet Union (FSU) and Asia. North America experienced demand growth while gas in Europe and Asia faced rising competition from cheaper coal, renewables and, in some instances, nuclear. Gains to European demand were mostly weather related while increases in Africa and Latin America were not significant. For LNG, Europe became the market of last resort as Asian consumption declined. Moreover, an anticipated surge in LNG supply, brought on by several new projects, may lead to a confrontation with Russian or other pipeline gas suppliers to Europe. At the same time, Asian buyers are seeking concessions on pricing and flexibility in their long-term contracts. Looking ahead, natural gas has to prove itself a credible and affordable alternative to coal, notably in Asia, if the world is to reach its climate change targets. The future of the gas industry will also depend on oil prices, evolution of Chinese energy demand and impact of COP21 on national energy policies. Current low prices mean there is likely to be a pause in final investment decisions (FIDs) on LNG projects in the coming years.

Graph and download economic data for Global price of LNG, Asia (PNGASJPUSDM) from Jan 1992 to Jun 2025 about Asia, World, and price.

Japan and China have some of the highest spot prices for liquefied natural gas. In January 2024, customers in Japan and China paid approximately 10.05 U.S. dollars per million British thermal unit of LNG delivered. Destination markets in Europe and South America experienced slightly lower shipping costs. In the last few years, the global trade volume of LNG has increased notably, exceeding 500 billion cubic meters shipped.

LNG demand growth and largest destination markets

Increased gas demand and improved liquefaction technology has prompted growth in the gas market and the entry of new players. LNG prices were initially strongly influenced by crude oil, however, as the market grew it developed independent benchmarks. As one of the largest LNG importing countries, the price for LNG in Japan has become synonymous with the global benchmark.

View monthly updates and historical trends for Japan Liquefied Natural Gas Import Price. Source: World Bank. Track economic data with YCharts analytics.

In 2026, liquified natural gas (LNG) was forecast to cost approximately 11.5 U.S. dollars per million British thermal units in Japan. The country imported the majority of its natural gas supply from overseas. Natural gas production in JapanSince Japan has limited natural resources, it heavily depends on imports for its primary energy supply. Only a small amount of the total supply of natural gas energy is produced domestically in areas such as Hokkaido, Chiba, or Niigata Prefecture. The natural gas produced in the around 60 oil and natural gas mines operating in Japan is mainly wet and dry natural gas. Minami-Kanto natural gas fields dissolved in water, which lies across Chiba Prefecture and surrounding prefectures, yields close to 20 percent of the total production of natural gas in the country. The saltwater in the field also includes a great amount of iodine. Japan is hence one of the leading countries regarding iodine production. LNG importsApart from the two percent of in-house natural gas production, the rest of the natural gas supply in Japan originates from liquefied natural gas (LNG) imports from countries like Australia, the state of Qatar, Malaysia, and Indonesia. Japan imported over 71 megatons of LNG in recent years, making the country the world’s largest importer of LNG. Natural gas and LNG accounted for over 21 percent of the total primary energy supply in Japan, indicating that natural gas and LNG are some of the most essential resources the country requires.

The average monthly price for natural gas in the United States amounted to **** nominal U.S. dollars per million British thermal units (Btu) in July 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 ** 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 ** 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 2024, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

The global Liquid Natural Gas (LNG) market is experiencing robust growth, driven by increasing global energy demand, particularly in Asia and Europe, coupled with a transition towards cleaner energy sources. While natural gas remains a fossil fuel, it's currently viewed as a transition fuel, less carbon-intensive than coal, playing a crucial role in reducing greenhouse gas emissions in the power sector. The market's expansion is fueled by several key factors: rising demand for electricity generation, increased industrial use in sectors like petrochemicals and fertilizers, and the growing adoption of LNG as a transportation fuel. Significant investments in LNG infrastructure, including liquefaction plants, pipelines, and import terminals, are further accelerating market growth. However, challenges such as fluctuating natural gas prices, geopolitical instability impacting supply chains, and concerns surrounding methane emissions pose potential restraints. The market is segmented by application (power generation, industrial, transportation) and type (conventional LNG, bio-LNG). Major players like Cheniere Energy, ConocoPhillips, QatarEnergy, and others are actively shaping the market landscape through strategic partnerships, capacity expansions, and technological advancements. The forecast period of 2025-2033 projects continued expansion, albeit at a potentially moderating CAGR, reflecting the interplay of increasing demand and the evolving energy landscape. Regional variations are expected, with Asia-Pacific and Europe likely to maintain strong growth trajectories due to their energy needs and increasing reliance on LNG imports. North America, while a significant producer, will also see growth, albeit perhaps at a slower rate. The continuous development of cleaner LNG production methods, including carbon capture and storage (CCS) technologies, will significantly influence the market's trajectory. Regulatory frameworks concerning emissions and environmental sustainability will also play a crucial role in shaping the future of the LNG market, potentially incentivizing investment in greener technologies and impacting market dynamics. The competition among major players is fierce, driving innovation and efficiency improvements across the value chain.

Natural gas liquid (NGL) production proportionally grows with natural gas extraction. The popularity of advanced extraction techniques like hydraulic fracturing has bolstered shale gas production, giving processors a steady revenue flow. The pandemic weakened industrial production and residential and commercial construction, leading to an oversupply of NGLs and causing prices to plummet. This quickly reversed as the economy reopened and natural gas prices surged, spiking production. This growth lasted until 2022, when prices eventually settled down as supply shortages slowly began to wane. Even so, industry-wide revenue swelled at a CAGR of 7.6% through 2025, reaching $99.5 billion, including a modest 17.0% uptick in 2025 alone. Profitability also swelled as processors passed on price hikes to consumers. The ongoing Russia-Ukraine conflict has created NGL supply woes in Europe as Russia has reduced its exports. These supply woes have opened the door for domestic NGL processors to take advantage of the favorable price environment in Europe and strengthen exports. This uptick in demand mitigated the appreciation of the US dollar, which made domestic NGLs more expensive. The EU's need for NGL led to a surge in exports to the country, making the US the largest NGL exporter in the world. Through 2030, revenue is set to stagnate as natural gas prices normalize, following highs over the current period. Nonetheless, expanding industrial production and natural gas extraction will provide processors with a steady stream of business. Even so, with the future of hydraulic fracturing in the air, future regulations can severely hinder production. As European countries look to reduce their dependence on Russian NGLs, exports will remain strong. With the US and EU reaching an agreement to bolster their purchases of NGL over the next three years, through 2028, exports will continue to be a driving force of revenue. Overall, revenue is set to push up at a CAGR of 0.1% through the end of 2030 to total $100.1 billion.

Liquefied Natural Gas (LNG) Market Outlook

The global Liquefied Natural Gas (LNG) market is poised for significant growth, with its market size projected to expand from approximately $150 billion in 2023 to $250 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of around 6%. This growth is driven by a combination of factors, including increasing energy demand, a shift towards cleaner energy sources, and advancements in LNG technologies that make the transportation and storage of natural gas more efficient and cost-effective. The market's expansion is also influenced by geopolitical factors and policy incentives that favor cleaner fossil fuels over traditional coal and oil.

One of the critical growth factors in the LNG market is the global push towards reducing carbon emissions and enhancing energy security. As countries worldwide aim to meet international climate commitments, LNG serves as a cleaner alternative to coal and oil, offering a reduction in greenhouse gas emissions. This environmental advantage, coupled with the abundance and reliability of natural gas as a resource, makes LNG an attractive option for energy portfolios. Additionally, technological advancements in LNG infrastructure, including improved liquefaction and regasification processes, have reduced costs and increased the viability of LNG as a sustainable energy source. These innovations are essential in meeting the burgeoning energy demands of rapidly industrializing nations.

The demand for LNG is also spurred by its versatility across various applications. From power generation to transportation, and industrial to residential use, LNG's role as a flexible and efficient energy solution is unmatched. In power generation, LNG-fired plants have become increasingly popular due to their ability to provide a stable and scalable energy supply. In transportation, LNG is gaining traction as a marine and heavy-duty vehicle fuel, offering a cleaner-burning alternative to diesel and gasoline. Furthermore, its role in industrial processes, where consistent and high-energy outputs are essential, further cements LNG's increasing importance in the global energy mix.

Another key factor driving the LNG market is the strategic geopolitical realignment and diversification of energy sources. As nations seek to bolster their energy security, the diversification away from politically unstable regions and traditional oil-based energy sources is paramount. Countries in Europe, for instance, are increasingly investing in LNG infrastructure to reduce dependence on Russian gas, while Asian nations continue to lead in LNG consumption due to their rapid industrial growth and urbanization. This shift not only enhances energy security but also encourages international trade and investment in LNG infrastructure, contributing to the market's robust growth trajectory.

Application Analysis

The application segment of the LNG market encompasses several key areas: transportation, power generation, industrial, residential, and commercial use. Within the transportation sector, LNG is increasingly being adopted as an alternative fuel for ships and trucks, driven by international regulations aiming to reduce sulfur emissions from marine fuels. Its cryogenic form allows for efficient storage and transport, making it a viable option for long-haul transportation routes. Shipping companies and logistics firms are investing in LNG-powered fleets to meet these regulatory standards while also benefiting from LNG's cost-effectiveness compared to traditional fuels.

In the realm of power generation, LNG plays a crucial role as a transitional energy source towards a lower-carbon future. Gas-fired power plants are viewed favorably due to their ability to quickly ramp up production to meet peak electricity demands and their lower emissions profile compared to coal-fired plants. As renewable energy sources continue to be integrated into the grid, LNG provides the necessary backup to ensure grid stability and reliability, especially in times of variable renewable energy output. This flexibility enhances its appeal to power producers looking to diversify energy supply sources.

The industrial sector represents another significant application area for LNG. Industries that require high-energy inputs, such as chemical manufacturing, refining, and steel production, benefit from the consistent and high-calorific value of LNG. Its use in industrial processes not only ensures energy efficiency but also aligns with corporate sustainability goals by reducing the carbon footprint of operations. Industries are thus increasin

View monthly updates and historical trends for US Natural Gas Liquid Composite Price. from United States. Source: Energy Information Administration. Track…

The size of the China LNG Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.00% during the forecast period. China LNG has dramatically expanded in recent years. In fact, China is the world's largest importer of liquefied natural gas (LNG). Being determined to decrease its reliance on coal, which has contributed hugely to air pollution and greenhouse gas emissions, the country has also targeted the use of alternative energy sources. This drive of the government to promote a cleaner alternative in the form of natural gas has largely taken the shape of increased L N G imports, and major terminals are being constructed along the coast to accommodate this growth. Mixing long-term contracts with spot market purchases would give the flexibilities in sourcing this commodity. Further, very heavy investments have been made in home country infrastructure, as witnessed by pipelines and storage facilities in place to back further growth of natural gas application for heating residential needs, for power generation, and for industrial use. Improved regasification technologies are also enhancing efficiencies while reducing the costs. However, global LNG prices are still volatile and geopolitics in some form or another create tensions, and other energy sources continue to compete with it. Since China aims to eventually become a more sustainable energy model for the future, the prospects for the LNG market are ready to play an even more critical role in fulfilling the country's needs while supporting economic growth with friendly efficiencies for the environment. The future of China's general LNG market is bright as part of a far broader trend toward a cleaner energy future. Recent developments include: In 2022, the Tianjin LNG terminal went under construction with a capacity of 5 metric tons per annum. The project received a sovereign loan from Asian Investment Bank (USD 500 million) and New Development Bank (EUR 430 million) in March 2021., In September 2021, China's state-controlled government, Sinopec, started constructing the Longkou LNG regasification terminal with a capacity of 6.5 metric tons per annum. The terminal is expected to be commissioned by October 2023.. Key drivers for this market are: 4., Rising Industrialization across the Globe4.; Increasing Utilization of Natural Gas. Potential restraints include: 4., High Cost of Installation and Maintenance. Notable trends are: LNG regasification will dominate the market..

The global natural gas price index stood at 173.26 index points in August 2025. Natural gas prices decreased that month as cooling demand fell due to colder weather than expected. The global price index takes into account indices from Europe, Japan, and the United States – some of the largest natural gas trading markets. The U.S. is the leading natural gas exporter in the world. Means of trading natural gas Liquefied natural gas (LNG) is the most common form of trading natural gas. Although piped gas is often the preferred choice for transportation between neighboring producing and consuming countries, seaborne trade as LNG has grown in market volume. This is in part thanks to high consumption in pipeline-inaccessible areas such as Japan, Korea, and China, as well as the recent increase in LNG trade by European countries. Major natural gas price benchmarks The natural gas prices often used as global benchmarks are Europe’s Dutch TTF traded on the Intercontinental Exchange, Indonesian LNG in Japan, and the U.S. Henry Hub traded on the New York Mercantile Exchange. 2022 was an especially volatile year for natural gas prices, as supply was severely constrained following sanctions on Russian imports. Other reasons for recent spikes in gas prices are related to issues at refineries, changes in demand, and problems along seaborne supply routes.

The global Liquefied Natural Gas (LNG) market is experiencing robust growth, projected to reach a market size of $8706.6 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 10.2% from 2025 to 2033. This expansion is driven by several key factors. Increasing global energy demand, particularly in rapidly developing economies of Asia, is a significant driver. The transition towards cleaner energy sources, with LNG often serving as a bridge fuel between coal and renewables, further fuels market growth. Government policies promoting natural gas as a less carbon-intensive alternative to coal also contribute significantly. Technological advancements in LNG production, liquefaction, and transportation are improving efficiency and reducing costs, making LNG a more competitive energy source. Furthermore, the growing adoption of LNG for transportation, particularly in heavy-duty vehicles and shipping, represents a new and expanding market segment. However, challenges remain. Price volatility linked to global energy markets and geopolitical instability can disrupt supply chains and impact LNG prices. Concerns regarding methane emissions during LNG production and transportation necessitate a focus on environmental sustainability and the development of cleaner technologies. Competition from other energy sources, such as renewables, also puts pressure on LNG market share. The industry needs to address these challenges through strategic investments in sustainable practices, technological innovation, and long-term supply agreements to ensure stable and consistent growth throughout the forecast period. Major players like Air Products & Chemicals, BG Group, BP, Cheniere Energy, and others are actively involved in shaping the future of the LNG market through capacity expansion, technological improvements, and strategic partnerships.