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.

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 the fourth quarter of 2023, the price of liquefied natural gas in India reached 589 USD/MT by December. Similarly, in Germany, the liquefied natural gas prices hit 654 USD/MT during the same month in 2023.

The global natural gas price index stood at 232.28 index points in February 2025. Natural gas prices increased by seven index points that month. 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 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.

In 2024, the global natural gas price index stood at 167.43 index points. This was down from a peak of 521.58 in 2022. Natural gas prices increased significantly in the latter half of 2021 and throughout much of 2022 owing to greater power demand combined with supply constraints. This trend was also reflected in the monthly natural gas price index.

Graph and download economic data for Producer Price Index by Industry: Natural Gas Liquids Extraction (PCU211112211112) from Jun 2002 to Jan 2025 about liquids, extraction, gas, PPI, industry, inflation, price index, indexes, price, and USA.

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 Producer Price Index by Industry: Natural Gas Distribution: Primary Products (PCU221210221210P) from Dec 1990 to Feb 2025 about distributive, primary, gas, PPI, industry, inflation, price index, indexes, price, and USA.

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.

United States - Producer Price Index by Industry: Natural Gas Distribution: Commercial Natural Gas was 287.33300 Index Dec 1990=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Natural Gas Distribution: Commercial Natural Gas reached a record high of 365.41900 in January of 2023 and a record low of 92.40000 in August of 1991. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Natural Gas Distribution: Commercial Natural Gas - last updated from the United States Federal Reserve on March of 2025.

Graph and download economic data for Producer Price Index by Industry: Natural Gas Distribution: Delivered to Ultimate Consumers for the Account of Others (Transportation Only) (PCU22121022121012) from Dec 1990 to Feb 2025 about distributive, accounting, gas, transportation, consumer, PPI, industry, inflation, price index, indexes, price, and USA.

During the last quarter of 2024, the natural gas prices in the USA reached 2742 USD/MT in December. Strong demand and geopolitical factors contributed to the steady rise in natural gas prices. Alongside inflation in LNG shipments to Europe and Mexico, the market was under pressure due to the increased need for heating caused by colder weather.

Explore IMARC's latest publication, “Natural Gas Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the natural gas market, providing insights into both global and regional trends that are shaping prices.

In 2023, the consumer price index (CPI) for natural gas in Germany was 194.4 points, an increase compared to the previous year. The opposite was true for liquefied gas.

The annual average consumer price index (CPI) of gas in the United Kingdom stood at 195 index points in 2023. The year 2015 was the base year and equals 100. Prices drastically increased compared to the previous years.

Colombia Producer Price Index: Origin of Goods: PC: Crude Oil and Natural Gas data was reported at 211.740 Dec2014=100 in Feb 2025. This records a decrease from the previous number of 224.050 Dec2014=100 for Jan 2025. Colombia Producer Price Index: Origin of Goods: PC: Crude Oil and Natural Gas data is updated monthly, averaging 139.770 Dec2014=100 from Dec 2014 (Median) to Feb 2025, with 123 observations. The data reached an all-time high of 304.790 Dec2014=100 in Jul 2022 and a record low of 65.400 Dec2014=100 in Apr 2020. Colombia Producer Price Index: Origin of Goods: PC: Crude Oil and Natural Gas data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.I033: Producer Price Index: ISIC: Dec2014=100.

United States - Producer Price Index by Commodity: Fuels and Related Products and Power: Natural Gas was 179.81200 Index 1982=100 in March of 2022, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Fuels and Related Products and Power: Natural Gas reached a record high of 492.70000 in October of 2005 and a record low of 7.40000 in February of 1967. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Fuels and Related Products and Power: Natural Gas - last updated from the United States Federal Reserve on March of 2025.

United States - Producer Price Index by Industry: Natural Gas Distribution: Industrial Natural Gas was 218.58800 Index Dec 1990=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Natural Gas Distribution: Industrial Natural Gas reached a record high of 338.20000 in July of 2008 and a record low of 86.40000 in September of 1995. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Natural Gas Distribution: Industrial Natural Gas - last updated from the United States Federal Reserve on March of 2025.

United States - Producer Price Index by Industry: Natural Gas Distribution: Other Consumers was 686.26200 Index Dec 1990=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Natural Gas Distribution: Other Consumers reached a record high of 686.26200 in February of 2025 and a record low of 100.00000 in January of 1991. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Natural Gas Distribution: Other Consumers - last updated from the United States Federal Reserve on March of 2025.

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.

Graph and download economic data for Personal consumption expenditures: Services: Household utilities: Natural gas (chain-type price index) (DGHERG3A086NBEA) from 1929 to 2024 about utilities, chained, gas, PCE, consumption expenditures, consumption, personal, households, services, GDP, price index, indexes, price, and USA.