Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, 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 March of 2025.

In 2023, the price of natural gas in Europe reached 13.1 constant U.S. dollars per million British thermal units, compared with 2.5 U.S. dollars in the U.S. This was a notable decrease compared to the previous year, which had seen a steep increase in prices due to an energy supply shortage exacerbated by the Russia-Ukraine war. Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe.

What is natural gas and why is it gaining ground in the energy market? Natural gas is commonly burned in power plants with combustion turbines that generate electricity or used as a heating fuel. Given the fact that the world’s energy demand continues to grow, natural gas was seen by some industry leaders as an acceptable "bridge-fuel" to overcome the use of more emission-intensive energy sources such as coal. Subsequently, natural gas has become the main fuel for electricity generation in the U.S., while the global gas power generation share has reached 22 percent.

How domestic production shapes U.S. natural gas prices The combination of hydraulic fracturing (“fracking”) and horizontal drilling can be regarded as one of the oil and gas industry’s biggest breakthroughs in decades, with the U.S. being the largest beneficiary. This technology has helped the industry release unprecedented quantities of gas from deposits, mainly shale and tar sands that were previously thought either inaccessible or uneconomic. It is forecast that U.S. shale gas production could reach 35 trillion cubic feet in 2050, up from 1.77 trillion cubic feet in 2000.

Graph and download economic data for Henry Hub Natural Gas Spot Price (DHHNGSP) from 1997-01-07 to 2025-03-24 about natural resources, gas, price, and USA.

The average monthly price for natural gas in the United States amounted to 3.02 nominal U.S. dollars per million British thermal units (Btu) in December 2024. By contrast, natural gas prices in Europe were about four times higher than those in the U.S. Prices for 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.

TTF Gas decreased 8.92 EUR/MWh or 17.69% since the beginning of 2025, 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 March of 2025.

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

Natural gas prices decreased across all major regions in 2023, as supply caught up to higher demand. In Japan, LNG sold for an average of 12.5 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 500 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.

UK Gas decreased 26.27 GBp/Thm or 20.95% since the beginning of 2025, 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 March of 2025.

Global liquefied natural gas prices have shown less volatility in 2024 and 2025 than the years prior, with the benchmark price reaching 14.72 U.S. dollars per million metric British thermal units in February 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 2023 compared to the previous year, with price volatility dropping to 75 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 207.9 index points in November 2024, showing an increase of nearly 20 points that month. This upward trend in natural gas prices contrasts with the comparatively lower crude oil price indices and follows greater heating demand in the winter months. 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 10.05 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 7.57 U.S. dollars per thousand cubic feet in 2023, down from 12.24 U.S. dollars the previous year.

Dutch TTF gas futures amounted to 42.75 euros per megawatt hour on March 24, 2025 for contracts with delivery in April 2025. Figures rose slightly compared to the previous weeks and were roughly 15 euros higher than in the same month the year prior. 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 13 U.S. dollars per million British thermal units in late March 2025.

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• Natural Gas (liquified), export spot price, fob, Indonesia

Each assessment includes Natural Gas price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

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Gasoline increased 0.22 USD/GAL or 10.89% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on March of 2025.

Have timely access to reliable Natural Gas price assessments in India:

• Natural Gas (liquified), import spot price, dap, India

Each assessment includes Natural Gas price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Natural Gas price assessments for India and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

Natural Gas Services stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

This statistic shows the price of commercial natural gas to end users in Canada from 2000 to 2035. It is estimated that in 2035, the end use price of commercial natural gas will be 14.49 Canadian dollars per gigajoule. Forecasts are a baseline projection which is considered to be the “most likely” outcome for Canada’s energy future, given the underlying assumptions.

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

The average price for regular gasoline in the United States stood at 3.08 U.S. dollars per gallon on March 17, 2025. This compared to a diesel price of 3.59 U.S. dollars per gallon. Prices for gasoline and diesel decreased that week. Real price surge of 2022 and 2023 still below 2011 to 2014 prices When looking at the real price of gasoline over time, U.S. drivers had to pay notably more in the years between 2011 and 2014. The surge in prices noted throughout 2022 and partly for 2023, which followed supply constraints, was still lower in terms of real U.S. dollars. U.S. on the lower-end spectrum of worldwide motor fuel prices The U.S. has some of the lowest conventional motor fuel prices in the world. Although fuel prices are usually higher in high-income countries, the U.S. profits from its position as the world’s largest crude oil producer and can keep retail prices for oil products comparatively low. For example, among high-income countries, prices for automotive premium gasoline (RON 95) were only lower in Russia and Saudi Arabia - countries where crude oil and oil product exports are in part restricted by sanctions, thus keeping domestic supply high.

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Smart Gas Market Size 2024-2028

The smart gas market size is forecast to increase by USD 18.48 billion at a CAGR of 14.76% between 2023 and 2028. The market is experiencing significant growth, driven by various factors including government regulations and initiatives, such as the push towards energy efficiency and the promotion of renewable energy sources. Another major trend is the development of smart cities, which require advanced energy management systems to ensure the efficient and sustainable use of resources. However, the integration of smart gas into existing infrastructure can be challenging due to the need for digitalization and the potential for measurement inaccuracies. The market also faces challenges, including infrastructural and standardization issues. The existing gas infrastructure is not always compatible with smart gas technologies, and there is a need for standardization to ensure interoperability and compatibility among different systems Despite these challenges, the market is expected to continue growing, driven by the increasing demand for energy efficiency and the integration of renewable energy sources into the gas grid.

What will be the Size of the Market During the Forecast Period?

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The integration of smart technologies into the natural gas sector is revolutionizing energy management and distribution in North America. This transformation is driven by the need to address aging infrastructure, increasing energy demand, and the imperative to reduce carbon emissions. Smart grid technology plays a pivotal role in this evolution, enabling self-healing networks that optimize energy flow and minimize wastage. Advanced metering infrastructure (AMI) is a key component of this technology, offering real-time monitoring and bill payments, ensuring consumer trust and accuracy. The implementation of energy management systems (EMS) is another critical aspect of smart gas technologies.

Moreover, these systems provide real-time information on energy usage and consumption patterns, enabling cost savings and energy conservation. Furthermore, they facilitate the integration of renewable energy sources, enhancing overall energy efficiency. The urbanization trend in North America necessitates a focus on urban safety. Smart gas technologies offer a solution by enabling remote monitoring and real-time response to potential issues in gas pipelines. This proactive approach to infrastructure maintenance reduces the risk of gas leaks and other safety concerns, ensuring the reliability and security of the gas supply. Moreover, investment in smart gas technologies offers significant market potential. The Energy Efficiency Directive, a regulatory initiative aimed at improving energy efficiency, provides incentives for the adoption of smart technologies.

Furthermore, the potential cost savings and the reduction of natural gas wastage make this a compelling investment opportunity for stakeholders in the energy sector. Security services are another area where smart gas technologies add value. Real-time monitoring and advanced analytics enable early detection and response to potential threats, enhancing the overall security of the gas infrastructure. In conclusion, the integration of smart technologies into the natural gas sector offers numerous benefits, including improved energy efficiency, reduced wastage, enhanced safety, and increased consumer trust. As urbanization continues and energy demand grows, the need for smart gas technologies becomes increasingly apparent. The market potential for these technologies is significant, making it an attractive investment opportunity for stakeholders in the energy sector.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Device

  Automatic meter reading (AMR)
  Advanced meter infrastructure (AMI)


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  Middle East and Africa



  South America

By Device Insights

The automatic meter reading (AMR) segment is estimated to witness significant growth during the forecast period. Advanced Metering Reports (AMR) systems enable seamless communication between natural gas consumers and utility companies. These systems facilitate one-directional data transfer from gas meters to a central database, automating the process of collecting gas consumption, diagnostic, and status information. By eliminating the need for manual meter readings, AMR technology ensures accurate billing and provides consumers with valuable insights into their gas usage patterns. Gas utilities increasingly favor AMR systems over traditional meters due to their efficiency and convenience. AMR technology

Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on March of 2025.

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Oil And Gas Upstream Equipment Market Size 2025-2029

The oil and gas upstream equipment market size is forecast to increase by USD 11.81 billion at a CAGR of 3.3% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing preference for pipeline transportation as an efficient and cost-effective method for crude oil transport. This trend is particularly prominent in regions with vast oil reserves and limited infrastructure for alternative transportation methods. Furthermore, the adoption of digitalization and automation in upstream operations is transforming the industry, enhancing operational efficiency and reducing costs. However, the market faces challenges, primarily the uncertainties associated with low crude oil prices, which can impact investment decisions and market growth. Companies seeking to capitalize on market opportunities and navigate challenges effectively should focus on innovation, cost reduction, and strategic partnerships. By staying informed of market dynamics and trends, these entities can position themselves for long-term success in the market.

What will be the Size of the Oil And Gas Upstream Equipment Market during the forecast period?

Request Free SampleThe market encompasses a diverse range of products and solutions essential for exploring, drilling, and producing oil and natural gas from oilfields. Key market segments include drilling rigs, well completion equipment, and production equipment. Onshore projects dominate the market, with a significant presence from drilling equipment for onshore and offshore applications. The market's size is influenced by various factors, including the number of onshore rig counts, workover rig components, and demand for large oilfield equipment such as drill bits, heat exchangers, air coolers, tank vessels, pumps and valves, and fluid handling systems. Market dynamics are driven by factors like crude oil prices, technological advancements, and the exploration and development of ultra-deepwater fields. Overall, the market is a dynamic and vital sector within the global energy industry, continually evolving to meet the demands of the ever-changing energy landscape.

How is this Oil And Gas Upstream Equipment Industry segmented?

The oil and gas upstream equipment industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ApplicationExploration and drillingCompletion and procedureOthersDeploymentOnshoreOffshoreTypeDrilling equipmentProduction equipmentWell intervention equipmentPressure control equipmentOthersGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKAPACChinaIndiaJapanSouth AmericaBrazilMiddle East and AfricaUAE

By Application Insights

The exploration and drilling segment is estimated to witness significant growth during the forecast period.The upstream sector in the global energy industry is primarily focused on the exploration and production of crude oil and natural gas. This process begins with geological surveys using advanced technologies such as seismic methods, including reflective, passive, gravity, and magnetic surveys, to identify potentially hydrocarbon-bearing rocks or prospects. Subsequently, exploratory wells are drilled to extract these resources. Seismic surveys employ sophisticated equipment like streamers, vessels, hydrophones, geophones, and receivers to gather large data volumes at higher frequencies. Geologists analyze this data in real time to determine the optimal location for production. The upstream sector encompasses various types of drilling activities, including onshore and offshore, and utilizes a range of oilfield equipment such as drilling rigs, well completion equipment, production equipment, fluid handling systems, and oil recovery techniques. This includes vertical wells, ultra-deepwater fields, and various types of pumps and valves. Additionally, emerging technologies like artificial intelligence, Internet of Things, data analytics, and various drilling techniques are being integrated to enhance efficiency and productivity.

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The Exploration and drilling segment was valued at USD 39.54 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 36% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American region dominates the market due to its high number of active rig counts. With the recent stabilization of crude oil price