Natural gas fell to 3.39 USD/MMBtu on July 4, 2025, down 1.74% from the previous day. Over the past month, Natural gas's price has fallen 7.91%, but it is still 46.02% higher than a year ago, 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 July of 2025.

The Report Covers US Oil and Gas Market Trends and Industry Overview and it is Segmented by Sector (Upstream, Midstream, and Downstream).

TTF Gas fell to 33.36 EUR/MWh on July 4, 2025, down 1.04% from the previous day. Over the past month, TTF Gas's price has fallen 8.96%, but it is still 1.05% higher 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 July of 2025.

UK Gas fell to 79.41 GBp/thm on July 4, 2025, down 0.42% from the previous day. Over the past month, UK Gas's price has fallen 7.50%, but it is still 3.01% higher 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 July of 2025.

The Noble Gas Market report segments the industry into Type (Helium, Krypton, Argon, Neon, Xenon, Radioactive Radon), Application (Picture Projection, Anesthetic, Welding, Insulation, Lighting, Television Tubes, Advertising, Refrigerant, Working Fluid, Chemical Analysis), End-User Industry (Oil and Gas, Mining, Healthcare, Aerospace, Construction, Energy and Power), and Geography (Asia-Pacific, North America, Europe, and more).

Global Oil And Gas market size is expected to reach $9894.48 billion by 2029 at 4.9%, segmented as by type, oil and gas upstream activities, oil downstream products

Substitute Natural Gas Market Outlook

The global Substitute Natural Gas (SNG) market size was valued at approximately USD 4.5 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2032. Key growth factors include rising energy demands, environmental regulations, and advancements in gasification and methanation technologies, significantly driving market expansion.

One of the primary drivers of the SNG market is the increasing global demand for sustainable and clean energy sources. As conventional natural gas reserves deplete, there has been a critical need to find alternative energy sources to meet the growing energy demand. Substitute Natural Gas, produced from coal, biomass, and waste, is emerging as a viable alternative, reducing dependence on traditional fossil fuels while also mitigating environmental impacts. The transition to SNG is further supported by stringent environmental regulations that aim to curb carbon emissions and promote cleaner energy production.

Technological advancements in gasification and methanation processes have significantly contributed to the market's growth. Innovations in these technologies have enhanced the efficiency and scalability of SNG production, making it more economically viable. Gasification technology converts carbonaceous materials into synthetic gas, which is then methanated to produce SNG. Continuous improvements in these processes have reduced production costs and increased the yield and quality of the produced gas. This technological progress is pivotal in accelerating the adoption of SNG across various sectors.

Another significant growth factor is the increasing investments and government support for renewable energy projects. Governments worldwide are providing subsidies, tax incentives, and grants to encourage the development of SNG production facilities. This support is part of broader strategies to enhance energy security, reduce greenhouse gas emissions, and promote sustainable development. Additionally, private sector investments are pouring into the SNG market, driven by the potential for high returns and the growing importance of corporate sustainability initiatives.

Regionally, Asia Pacific is poised to be a significant contributor to the SNG market growth, driven by rapid industrialization, urbanization, and energy demand in countries like China and India. North America and Europe are also expected to witness substantial growth due to favorable regulatory frameworks and significant investments in renewable energy infrastructure. These regions are focusing on diversifying their energy mix and reducing carbon footprints, which aligns with the increased adoption of SNG as an alternative energy source.

Source Analysis

The SNG market is segmented by source into coal, biomass, waste, and others. Coal remains a dominant source for SNG production due to its abundant availability and established gasification technologies. Despite environmental concerns associated with coal, advancements in cleaner coal technologies have facilitated its continued use in SNG production. The carbon capture and storage (CCS) technology, in particular, has played a crucial role in mitigating the environmental impact of coal-based SNG production, making it a more viable option in the transition toward cleaner energy.

Biomass as a source for SNG is gaining traction due to its renewable nature and lower carbon footprint. Biomass feedstocks, including agricultural residues, forestry waste, and dedicated energy crops, can be converted into SNG through anaerobic digestion and gasification processes. The use of biomass aligns with circular economy principles and provides a sustainable alternative to fossil fuels. The growth of the biomass segment is supported by increasing investments in bioenergy projects and favorable government policies promoting renewable energy.

Waste-to-energy (WtE) is another promising segment in the SNG market. Utilizing municipal solid waste, industrial waste, and other organic waste streams to produce SNG not only addresses waste management challenges but also contributes to energy production. Advanced waste gasification technologies have improved the efficiency and economics of converting waste into SNG, making it an attractive option for sustainable energy production. The integration of waste-to-energy solutions into urban infrastructure is furthe

The Industrial Gases Market report segments the industry into Product Type (Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Helium, Argon, and more), End-User Industry (Chemical Processing and Refining, Electronics, Food and Beverage, Oil and Gas, Metal Manufacturing and Fabrication, and more), and Geography (Asia-Pacific, North America, and more).

Snapshot img { margin: 10px !important; } The global natural gas market has the potential to grow by USD 137.51 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by resource type (conventional and unconventional) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Suncor Energy Inc., and TOTAL SA.

Market Overview

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Market Competitive Analysis

The natural gas market is currently highly fragmented, and the degree of fragmentation will remain the same during the forecast period. Vendors are focusing on unconventional exploration and production activities to increase revenue generation. BP Plc, Chevron Corp., ConocoPhillips Co., and Exxon Mobil Corp. are some of the major market participants. Although the investments in upstream projects will offer immense growth opportunities, the environmental concerns related to drilling will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this natural gas market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this natural gas market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading natural gas companies, including:

BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
PJSC Gazprom
Royal Dutch Shell Plc
Saudi Arabian Oil Co.
Suncor Energy Inc.
TOTAL SA

Natural Gas Market: Segmentation by Region

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North America was the largest market for natural gas in 2019, and the region will continue to offer maximum growth opportunities to vendors. The natural gas production output in North America has increased significantly in recent years owing to unconventional exploration and production activities, such as drilling, in shale reserves in the region.

Over 36% of the market’s growth will originate from North America during the forecast period. The growing number of onshore and offshore natural gas projects and rising investments and initiatives undertaken by various governments will contribute to the natural gas market size growth in the region. The US and Canada are the key markets for natural gas in North America. Market growth in this region will be faster than the growth of the market in other geographies.

Natural Gas Market: Segmentation by Resource Type

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Oil and natural gas production from conventional resources hold a significant share in the oil and gas industry. The availability of conventional resources of natural gas is high in natural gas-producing countries such as Russia, Iran, Qatar, and China. The rising demand for natural gas and increasing investments in the upstream sector are driving the growth of the global natural gas market by the conventional segment.

However, market growth by the conventional segment will be slower than the growth of the market by the unconventional segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the natural gas market size.

Natural Gas Market: Key Drivers and Trends

The growing population and industrial development have been increasing the demand for energy across the world. Therefore, many countries are exploring untapped oil and gas resources with the help of technological advances in the oil and gas industry. Moreover, oil and gas operators are increasingly investing in mature oil and gas fields to overcome the issue of declining conventional oilfields and maximize their revenue. Such increasing investments in the upstream oil and gas sector across the world

The China oil & gas market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.5% during 2023–2031. The growth of the market is attributed to growing demand for energy with the rising population in the country.



Oil & natural gas are major industries in the energy market and play an influential role in the global economy as they are world's primary fuel sources. The processes and systems involved in producing and distributing oil & gas are highly complex, capital-intensive, and require state-of-the-art technology.

China ranks seventh in oil production and second in crude oil consumption in the world. However, higher levels of natural gas or liquefied natural gas (LNG) consumption are expected to depend on more pipeline imports from the other countries.



China began to take drastic measures with its internal oil reserve programs as domestic oil production in China supplies only two-thirds of its requirements. The estimated consumption of crude oil was about 600 million tons in 2020. As techniques for extracting and refining fossil fuels are improved, petroleum and natural gas has become sought-after resources.

Market Trends, Drivers, Restraints, and Opportunities:

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  Increasing exploration of unconventional gas resources is one of the major drivers that is contributing to the growth of the China oil & gas market.

  
  


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  Rising technological advancements has resulted in the adoption of different types of drilling for oil & gas extraction, such as horizontal and directional drilling, which is expected to augment the market growth.

  
  


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  Rising adoption of alternate transportation modes for oil & gas can restraint the market growth.</s

The US natural gas market, a significant component of the global energy landscape, is projected to experience robust growth over the forecast period (2025-2033). Driven by increasing demand from the power generation sector, a shift towards cleaner energy sources (compared to coal), and ongoing industrialization, the market is poised for expansion. The abundance of shale gas reserves within the US contributes significantly to this growth, making the nation a key player in global natural gas production and trade. While challenges exist, such as fluctuating prices influenced by global supply chains and environmental concerns regarding methane emissions, technological advancements in extraction and infrastructure development are mitigating these risks. The residential sector also contributes to market growth, albeit at a slower rate compared to power generation and industrial applications. Competition among major players like ExxonMobil, Chevron, and ConocoPhillips, fuels innovation and efficiency improvements within the industry. The market segmentation by gas type (wet and dry) further reflects the diverse applications and evolving needs of consumers and industries. Assuming a conservative CAGR of 5% based on the provided information, and a 2025 market size of approximately $300 billion (a reasonable estimate considering the scale of the US energy market), we can project substantial growth throughout the forecast period. Growth is expected to be most pronounced in regions with strong industrial activity and expanding power grids. The specific growth trajectory will depend on factors such as government policies promoting natural gas utilization (or potentially phasing it out), technological advancements, and global geopolitical events impacting energy prices. Nonetheless, the US natural gas market is expected to maintain its position as a major contributor to the national energy supply and a significant player in the global energy market. Further analysis of specific segments (e.g., wet vs. dry natural gas within each end-use sector) would provide more granular insights into market dynamics and investment opportunities. The overall outlook remains positive, projecting significant value creation and economic benefits over the next decade. Recent developments include: May 2022: According to the US Energy Information Administration, the Natural Gas Pipeline Project Tracker was updated with recent approvals and completions of pipeline projects. As of the end of the first quarter of 2022, the Federal Energy Regulatory Commission (FERC) approved three projects to increase the export of US natural gas by pipeline and LNG. FERC approved two projects connecting LNG terminals in Louisiana. The Evangeline Pass Expansion Project, owned by Tennessee Gas Pipeline Company, is 1.1 billion cubic feet in size. It is intended that the proposed Plaquemines LNG Project in Plaquemines Parish, Louisiana, be supplied with natural gas by constructing 13.1 miles of new pipeline and two new compressor stations., April 2022: TotalEnergies signed a Heads of Agreement (HOA) with Sempra Infrastructure, Mitsui & Co., Ltd., and Japan LNG Investment for the expansion of Cameron LNG, a liquefied natural gas (LNG) production and export facility located in Louisiana, United States. The expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), as well as the debottlenecking of the first three trains to increase production by 5%.. Notable trends are: Power Generation Segment to Dominate the Market.

Liquefied Natural Gas Market is estimated to be valued at USD 155.41 Bn in 2025 and is expected to expand at CAGR of 9.3%, reaching USD 289.79 Bn by 2032.

Increasing availability of big data analytics and insights will be the trend with the largest positive impact on oil & gas companies business growth, according to respondents to a 2020 survey. In the following three years, ** percent of respondents expect big data analytics to play a key role for the industry. By comparison, advances in gender parity expansion are not perceived as a major positive impact for the oil and gas market growth.

Recent developments include: July 2022: The Indian government announced that it had set a target to raise the share of natural gas in the energy mix to 15% by 2030 from the current 6.3%. According to the data demonstrated by the Ministry of Petroleum & Natural Gas, 95.21 lakh PNG (Domestic) connections have been provided, and the authorized entities have established 4531 CNG (Transport) stations as of 31 May 2022., May 2022: The China National Offshore Oil Company (CNOOC) awarded CNY 16 billion (USD2.42 billion) contracts for building 12 liquefied natural gas tankers. The 12 vessels will be constructed by Hudong Zhonghua Shipbuilding Co., a China State Shipbuilding Corporation (CSSC). Each tanker can carry about 174,000 cubic meters of LNG, equivalent to 108 million cubic meters when re-gasified. The vessels are slated for commissioning between 2024 and 2027., January 2022: GAIL (India) Ltd commenced India's first-of-its-kind project of mixing hydrogen into the natural gas system in Indore, Madhya Pradesh. The hydrogen blended natural gas will be supplied to Avantika Gas Ltd, one of GAIL's joint ventures with HPCL, to retail CNG to automobiles and piped natural gas to households in Indore.. Key drivers for this market are: 4., Increasing Electricity Demand4.; Rsing Investments in the Coal Industry. Potential restraints include: 4., Increasing Installation of Renewable Energy Sources. Notable trends are: Increasing Investments in Natural Gas Production to Drive the Market.

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.

The global rare gas market is expected to experience steady growth, with its valuation projected to increase from approximately USD 4.08 billion in 2025 to around USD 6.81 billion by 2035. This growth reflects a CAGR of approximately 4.6% over the forecast period.

Country-wise Insights

The global Floating Liquefied Natural Gas (FLNG) market size reached USD 19.21 Billion in 2022 and is expected to reach USD 30.67 Billion in 2032 registering a CAGR of 4.7%. Floating Liquefied Natural Gas market growth is primarily driven owing to Increasing demand for clean energy and technological...

United States Midstream Oil and Gas Market was valued at USD 9.2 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.2% through 2029.

The size of the Compressed Natural Gas Market was valued at USD 159.9 USD Billion in 2023 and is projected to reach USD 346.91 USD Billion by 2032, with an expected CAGR of 11.7 % during the forecast period. CNG is a clear, dry and odorless fuel which is produced by compressing natural gas which is a mixture of hydrocarbons found in natural gas fields. This process makes the amount of the gas to be smaller and hence it is easy for it to be stored and transported. There are two main types of CNG: Pneumatic systems can be further divided into high-pressure which ranges between 200 – 250 bar and medium pressure ranging from 100-150 bar. Some of the important characteristics about CNG are favorably low level of pollutant emissions, high fuel conversion efficiency, and the most important the cost of CNG compared to the gasoline and diesel. CNG is employed mainly in transport, specifically in the use of buses and taxis and in industries and power production. With these two advantages in environmental management as well as low consumption costs compared to other fuels, bio fuels are preferred. Key drivers for this market are: Growing Focus on Safety and Organization to Fuel Market Growth. Potential restraints include: Inclination Towards Renewable Energy to Hamper Market Growth . Notable trends are: Solar Energy to Play a Significant Role in Achieving Green Energy Targets .

The Synthetic Natural Gas Market Share size and share are expected to exceed USD 194.53 billion by 2034, with a compound annual growth rate (CAGR) of 23.4% during the forecast period.