About the Project
KAPSARC 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 Points
In 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.
Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.
European countries have some of the highest natural gas prices for households worldwide. Natural gas prices for households vary greatly around the world, depending on governmental levies, taxes, as well as local production. In Sweden, prices averaged 0.24 U.S. dollars per kilowatt-hour in December 2023, whilst prices in Canada, a producer of natural gas, were just 0.04 U.S. dollars per kilowatt-hour.
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Graph and download economic data for US Regular All Formulations Gas Price (GASREGW) from 1990-08-20 to 2025-07-28 about gas, commodities, and USA.
Dutch TTF gas futures amounted to **** euros per megawatt hour on July 28, 2025 for contracts with delivery in August 2025. Figures decreased 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 late July 2025.
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All piped gas.
Average consumer prices are calculated for household fuel, motor fuel, and food items from prices collected for the Consumer Price Index (CPI). Average prices are best used to measure the price level in a particular month, not to measure price change over time. It is more appropriate to use CPI index values for the particular item categories to measure price change.
Prices, except for electricity, are collected monthly by BLS representatives in the 75 urban areas priced for the CPI. Electricity prices are collected for the BLS for the same 75 areas on a monthly basis by the Department of Energy using mail questionnaires. All fuel prices include applicable Federal, State, and local taxes; prices for natural gas and electricity also include fuel and purchased gas adjustments.
For more information, please visit the Bureau of Labor Statistics (https://www.bls.gov/cpi/factsheets/average-prices.htm).
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Gasoline Prices in Egypt remained unchanged at 0.35 USD/Liter in July. This dataset provides - Egypt Gasoline Prices- actual values, historical data, forecast, chart, statistics, economic calendar and news.
Energy price inflation is an important metric to inform economic policy but traditional sources of consumer prices are often produced with delay during crises and only at an aggregate level. This may poorly reflect the actual price trends in rural or poverty-stricken areas, where large populations reside in fragile situations. This data set includes energy price estimates and is intended to help gain insight in price developments beyond what can be formally measured by traditional methods. The estimates are generated using a machine-learning approach that imputes ongoing subnational price surveys, often with accuracy similar to direct measurement of prices. The data set provides new opportunities to investigate local price dynamics in areas where populations are sensitive to localized price shocks and where traditional data are not available.
The data cover the following sub-national areas: Anbar, Babil, Baghdad, Basrah, Diyala, Dahuk, Erbil, Ninewa, Kerbala, Kirkuk, Missan, Muthanna, Najaf, Qadissiya, Salah al-Din, Sulaymaniyah, Thi-Qar, Wassit, Market Average
As of Q3 2024, the average price of natural gas in Israel was **** U.S. dollars per million British thermal units (MMBTU). This marked a slight decrease compared to the previous quarter, when the price was **** MMBTU. During the period observed, the price of natural gas in the local market decreased by *** percent.
The average price for regular gasoline in the United States stood at **** U.S. dollars per gallon on July 28, 2025. This compared to a diesel price of **** U.S. dollars per gallon. Prices for gasoline remained unchanged 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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According to Cognitive Market Research, the global Natural Gas Liquids market size will be USD 17542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 7016.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5262.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4034.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 877.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The ethane category is the fastest growing segment of the Natural Gas Liquids industry
Market Dynamics of Natural Gas Liquids Market
Key Drivers for Natural Gas Liquids Market
Increasing Petrochemical Industry to Boost Market Growth
The market for natural gas liquids (NGL) is mostly driven by the expanding petrochemical sector. Natural gas liquids (NGLs) like ethane, propane, and butane are vital raw materials for the synthesis of petrochemicals like ethylene and propylene, which are extensively utilized in the creation of synthetic materials, chemicals, and plastics. The need for NGLs is rising due to the petrochemical industry's explosive growth, particularly in North America and Asia. The utilization of NGLs in a variety of applications is growing as a result of growing industrialization and technological developments in chemical processing. The global need for consumer goods, packaging, and industrial materials is driving the petrochemical industry's growth, which in turn will fuel the NGL market's long-term growth.
The Surge in Shale Gas Production to Drive Market Growth
The market for natural gas liquids (NGL) is growing as a result of increased shale gas output. Production of NGLs, including ethane, propane, and butane, has expanded because of the spike in shale gas extraction, especially in North America, through horizontal drilling and hydraulic fracturing technology. These liquids are frequently left over after natural gas from shale formations is extracted. In order to fulfill growing global demand, the U.S. shale boom has improved export prospects and supported local NGL supplies. The supply of NGLs is directly increased by the ongoing expansion of shale gas production, which fosters the long-term growth of the NGL market by meeting the increasing demand from sectors such as transportation, energy, and petrochemicals.
Restraint Factor for the Natural Gas Liquids Market
Price Volatility for Crude Oil Will Limit Market Growth
The volatility of crude oil prices severely constrains
The natural gas liquids (NGL) market. Because NGLs are frequently extracted in conjunction with crude oil and natural gas, changes in oil prices have an immediate effect on how profitable it is to produce NGLs. Oil and gas companies may cut back on drilling when crude oil prices drop, which lowers the output of NGLs. Furthermore, a decline in oil prices may increase the appeal of alternative energy sources, which would lessen the market for NGLs. On the other hand, sudden spikes in oil prices can cause market instability and increase the operational expenses for NGL producers. It is difficult for NGL market participants to sustain consistent growth because of this price volatility, which also makes long-term planning more difficult and causes investor concern.
Impact of Covid-19 on the Natural Gas Liquids Market
The COVID-19 pandemic had a substantial effect on the natural gas liquids (NGL) market because it caused supply chain disruptions on a worldwide scale, decreased energy consumption, and a steep reduction in industrial activity. Lockdowns and limitations reduced the demand for NGLs, especially in the transportation and petrochemical sectors, which are big users of butane, propane, and ethane. The demand for NGLs as alter...
The average gas price in Great Britain in May 2025 was 82.59 British pence per therm. This was seven pence higher than the same month the year prior and follows a trend of increasing gas prices. Energy prices in the UK Energy prices in the UK have been exceptionally volatile throughout the 2020s. Multiple factors, such as a lack of gas storage availability and the large share of gas in heating, have exacerbated the supply issue in the UK that followed the Russia-Ukraine war. This has also led to many smaller suppliers announcing bankruptcy, while an upped price cap threatened the energy security of numerous households. The United Kingdom has some of the highest household electricity prices worldwide. How is gas used in the UK? According to a 2023 survey conducted by the UK Department for Energy Security and Net Zero, 58 percent of respondents used gas as a heating method during the winter months. On average, household expenditure on energy from gas in the UK stood at some 24.9 billion British pounds in 2023, double the amount spent just two years prior.
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The small-scale liquefied natural gas (SS LNG) market is experiencing robust growth, driven by increasing demand for cleaner energy sources and the need for flexible and efficient LNG distribution solutions. The market, estimated at $15 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 10% from 2025 to 2033, reaching approximately $40 billion by 2033. This growth is fueled by several key factors. The rising adoption of LNG as a transportation fuel, particularly in the maritime and heavy-duty trucking sectors, significantly contributes to market expansion. Furthermore, the growing demand for LNG in remote and off-grid locations, where pipeline infrastructure is lacking, is driving the need for smaller-scale LNG solutions. Technological advancements in LNG storage and transportation, including the development of more efficient and cost-effective small-scale tanks like double and full containment tanks, are further accelerating market growth. The increasing focus on energy security and diversification also favors SS LNG, as it offers a reliable and localized energy source. Segmentation within the SS LNG market reveals strong growth across diverse applications. Online distribution channels are expected to see faster growth due to the increasing convenience and efficiency they offer compared to traditional offline methods. Different tank types, such as single, double, and full containment tanks, cater to specific needs and safety requirements, contributing to a diverse market landscape. Geographically, North America and Europe currently hold the largest market share, owing to established LNG infrastructure and stringent environmental regulations. However, emerging markets in Asia-Pacific are poised for significant growth, driven by rapidly expanding energy needs and supportive government policies. Despite these positive trends, challenges such as the relatively high initial investment costs associated with LNG infrastructure and the volatility of natural gas prices could potentially restrain market growth in the near term.
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This dataset shows the Producer Price Index (2010=100) for local production by division (MSIC 2008), 2010 - 2023 (Jan-Jul) Malaysia (Monthly) Footnote Weight: Divisions Weight Total 100.000 Crop and animal production, hunting and related services 5.714 Forestry and logging 0.410 Fishing and aquaculture 0.606 Extraction of crude petroleum & natural gas 7.927 Manufacture of food product 14.531 Manufacture of beverages 0.671 Manufacture of tobacco products 0.306 Manufacture of textiles 0.634 Manufacture of wearing apparel 0.550 Manufacture of leather and related products 0.138 Manufacture of wood of products of wood and cork, except furniture: manufacture of articles of straw and plaiting materials 1.678 Manufacture of paper and paper products 1.229 Printing and reproduction of recorded media 0.723 Manufacture of coke and refined petroleum products 10.038 Manufacture of chemicals and chemical products 6.691 Manufacture of basic pharmaceutical products and pharmaceutical preparations 0.287 Manufacture of rubber and plastic products 4.744 Manufacture of other non-matellic mineral products 2.930 Manufacture of basic metals 3.064 Manufacture of fabricated metal products, except machinery and equipment 3.620 Manufacture of computer, electronic and optical products 18.788 Manufacture of electrical equipment 2.577 Manufacture of machinery and equipment n.e.c. 2.058 Manufacture of motor vehicles,trailers and semi trailers 3.963 Manufacture of other transport equipment 1.404 Manufacture of furniture 0.947 Electricity and gas 3.442 Water collection, treatment and supply 0.330 Source: Department of Statistics Malaysia. No. of Views : 146
At 3.82 U.S. dollars per gallon in October 2022, regular all formulation retail gasoline prices in the United States were considerably lower than in Hong Kong or the Central African Republic, which reported the highest gasoline prices in the world at the end of October 2022. Norway also ranked high this year. Its high gasoline prices might be one of the reasons why the country is leading the charge towards electric mobility. Gas prices in selected countries worldwide Fuel prices in different countries range from a few cents to almost two U.S. dollars per liter. Gasoline is often regarded as a key driver of a country’s economy, as it is the main fuel used in passenger vehicles and the automotive fleets of small and large businesses. The United States is one of the biggest consumers of gasoline on a per capita basis, with approximately 356 gallons of gasoline per person in 2020. Fuel prices respond to crude oil price changes One of the liquid’s main ingredients is crude oil. The spot prices of publicly traded crudes, such as U.S.-sourced WTI (West Texas Intermediate), UK Brent, and the OPEC basket grades, are highly volatile and have proven prone to inflation as of late, most recently due to the novel coronavirus outbreak in China, blockages in the Suez Canal, and the Russian invasion of Ukraine. Where access to oil is limited, this volatility may spur a shift towards alternative propulsion systems and fuels among a growing number of vehicle drivers. Affordability of fuel Gas prices in Europe are counted among the highest worldwide. At 7.6 U.S. dollars per gallon or more, gasoline is particularly expensive in Iceland, Norway, Denmark, Greece, Finland, and the Netherlands. Car drivers in Mozambique and Madagascar feel the most pain at the pump. Some 145.7 percent of a month's wages are needed to fill up a tank in Mozambique. The low affordability of fuel is due to weak currencies, limited wage growth, and a level of prosperity that is yet to meet other markets' standards. The high price in countries such as the Netherlands and Norway is largely attributable to taxes. Other factors driving gas prices include local demand, processing and distribution costs, and the aforementioned level of crude oil prices.
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According to the Cognitive Market Research Report, the Fingerprint Sensors Market size in 2023 was XX Million and is projected to have a compounded annual growth rate of XX% from 2024 to 2031. Increase in Light-Duty Vehicles Worldwide and growing cost of fossil fuels are one of the main reasons behind the CNG market's expansion. Many growing drivers have caused the Asia Pacific region to become a dominating participant in the CNG industry in recent years. These include backing from the government, financial savings, environmental considerations, the need for transportation expansion, and the availability of natural gas.
Market Dynamics of Compressed Natural Gas CNG Market
Key Drivers
Increase in Light-Duty Vehicles Worldwide
Light-duty vehicles (LDVs) are defined as vehicles weighing less than 10,000 pounds (about 4500 kg), and this group includes both passenger cars and light commercial vehicles (such as delivery vans and pick-ups). The other benefit of these vehicles is that people are purchasing these vehicles due to factors like Growing urbanization, higher disposable income, and the growth of the automobile sector. These consumers of light-duty vehicles are embedding the CNG in their vehicles because CNG burns almost particle-free and emits significantly less CO2 than liquid fuels. Conventional CNG is now supplemented by CNG derived from regenerative sources. As a result, the gasoline is even more eco-friendly. It is also cost effective Because of the low cost of gasoline, automobiles equipped with CNG powertrain systems are more economical in many nations. The wide range of gas engines and vehicle types that are compatible with CNG technology includes anything from little automobiles to large commercial trucks. Significant system knowledge, consultancy services, and tried-and-true standard parts are further important components in terms of light-duty vehicles. For instance, Tata’s Ace Gold CNG Plus A 2-cylinder 694CC engine with a maximum output of 19.4 kW (26 HP) and a maximum torque of 51 nM powers BS6 Phase 2. It has a segment-best load body deck with a load body that is 2520 mm (8.2 feet) long and a segment-best leaf spring suspension that is highly loadable. This vehicle has an 18 kg CNG fuel tank that provides a 400 km trip range, which is at least 70% longer than that of the closest competitor mini truck. The BS6 Phase 2 model includes an improved cockpit with a larger headlight for safety, revised steering for less steering effort, and a flat bench for the driver to relax on. Because of its great load capacity, minimal maintenance requirements, and high resale value, the Ace Gold CNG Plus is the best car for consumers searching for a CNG choice. (Source: https://smalltrucks.tatamotors.com/product/ace/tata-ace-gold-cng-plus) Therefore, there is a huge consumer base for light-duty vehicles that are going for CNG rather than conventional fossil fuel because of less CO2 emission and being cost-effective.
The growing cost of fossil fuels is one of the main reasons behind the CNG market's expansion.
An important aspect propelling the CNG market's expansion is the escalating cost of fossil fuels. Due to the rising costs of conventional fossil fuels like gasoline and diesel, more businesses and consumers are searching for more affordable and environmentally friendly alternatives. Given that CNG is more affordable and steadier in price than other fossil fuels, especially gasoline and diesel, it is a good substitute. Several variables, such as the foreign currency rate, the price of oil globally, the capacity of local refineries, and governmental regulations, have an impact on the price of gasoline at the pump. Regrettably, these variations frequently cause transportation expenses to rise, which has an impact on the pricing of products and services. The economies are susceptible to global market swings, geopolitical unrest, and supply chain interruptions due to their dependence on imports for refined petroleum products. Burning fossil fuels also releases toxic greenhouse gases into the atmosphere, which exacerbates air pollution and accelerates climate change. The importance of switching to greener and more sustainable energy sources is highlighted by these difficulties. Hence, to counterattack these challenges, the usage of Compressed Natural Gas is a cost-effective and environment-friendly means for transportation purposes. ...
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The global urban gas market exhibits robust growth, driven by increasing urbanization, rising energy demands in residential, commercial, and industrial sectors, and government initiatives promoting cleaner energy sources. The market is segmented by application (residential, commercial, public buildings, manufacturing industries, others) and gas type (natural gas, manufactured gas, liquefied petroleum gas – LPG). Natural gas currently dominates the market due to its abundance, relatively lower cost, and established infrastructure. However, LPG is experiencing growth, particularly in regions with limited natural gas pipeline networks. The shift towards cleaner energy sources is a key trend, leading to investments in renewable gas infrastructure and technologies to reduce carbon emissions associated with urban gas consumption. While the market faces challenges such as fluctuating gas prices and environmental concerns, technological advancements in gas distribution and efficient utilization are mitigating these restraints. Major players, including China Resources Gas, Beijing Gas Group, and others, are actively involved in expanding their infrastructure and exploring new market opportunities. The market is geographically diverse, with Asia-Pacific (particularly China and India) representing significant growth potential due to rapid urbanization and industrialization. North America and Europe maintain substantial market shares, driven by established infrastructure and regulatory frameworks. The forecast period (2025-2033) anticipates continued expansion of the urban gas market, driven by sustained demand from developing economies and ongoing infrastructure development in mature markets. Technological innovations, such as smart metering and grid optimization, are expected to enhance efficiency and reduce losses. Government policies promoting energy security and environmental sustainability will play a pivotal role in shaping market growth. Competition among existing players and the emergence of new entrants will further influence market dynamics. Specific growth rates will vary across regions and segments, depending on local factors like economic growth, infrastructure investment, and environmental regulations. Careful consideration of these factors is crucial for stakeholders seeking to capitalize on opportunities within this dynamic market.
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This table contains the pump prices for motor fuels at petrol stations around the Netherlands. Weighted average monthly prices are published of petrol Euro95, diesel oil and LPG including VAT and excise duties. A breakdown is provided of prices on the highway, and at local manned and local unmanned petrol stations. These prices are published once a month.
Data available from: January 2006
Status of the figures: The figures in this table are final figures
Changes since the previous period: New figures have been added
When will new figures be published? The figures appear on the first Thursday of the month, not being the first two days of the month. If publication on this day is not possible due to circumstances such as public holidays, they will be published on the next working day.
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Spain ES: Pump Price for Diesel Fuel: USD per Liter data was reported at 1.130 USD in 2016. This records a decrease from the previous number of 1.550 USD for 2014. Spain ES: Pump Price for Diesel Fuel: USD per Liter data is updated yearly, averaging 1.100 USD from Dec 1995 (Median) to 2016, with 11 observations. The data reached an all-time high of 1.750 USD in 2012 and a record low of 0.650 USD in 2000. Spain ES: Pump Price for Diesel Fuel: USD per Liter data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Spain – Table ES.World Bank: Transportation. Fuel prices refer to the pump prices of the most widely sold grade of diesel fuel. Prices have been converted from the local currency to U.S. dollars.; ; German Agency for International Cooperation (GIZ).; Median;
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Colombia CO: Pump Price for Diesel Fuel: USD per Liter data was reported at 0.640 USD in 2016. This records a decrease from the previous number of 1.040 USD for 2014. Colombia CO: Pump Price for Diesel Fuel: USD per Liter data is updated yearly, averaging 0.465 USD from Dec 1992 (Median) to 2016, with 12 observations. The data reached an all-time high of 1.180 USD in 2012 and a record low of 0.190 USD in 1992. Colombia CO: Pump Price for Diesel Fuel: USD per Liter data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Colombia – Table CO.World Bank.WDI: Transportation. Fuel prices refer to the pump prices of the most widely sold grade of diesel fuel. Prices have been converted from the local currency to U.S. dollars.;German Agency for International Cooperation (GIZ).;Median;
About the Project
KAPSARC 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 Points
In 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.