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.

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.

The report covers Europe Natural Gas Market Analysis and it is segmented by Sector (Upstream, Midstream, and Downstream), Location of Deployment (Onshore, Offshore), and Geography (United Kingdom, Norway, Netherlands, Germany, and the Rest of Europe). The report offers the market size and forecasts for Europe's natural gas market in revenue (USD Billion) for all the above segments.

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.

This dataset contains natural gas exports by Europe & Eurasia from 2010-2023. Data from CORES. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: '^ greater than 0

Germany has the largest import volume of natural gas among European countries. In 2022, Germany bought roughly 87.7 billion cubic meters of natural gas from outside trading partners. This was followed by Italy, which imported 72.6 billion cubic meters worth. That year, overall natural gas imports into the region increased as economic activity in many countries recovered. Where is natural gas imported from? Natural gas may be imported either in its gaseous state via pipelines or as LNG (liquefied natural gas). The European continent has primarily relied on imports via pipelines from large producing neighbors such as Russia. However, with the outbreak of the Russia-Ukraine war and sanctions imposed on Russian energy imports, supply routes have shifted. Although Russian gas dependence remains high, particularly in Eastern European countries, expansion of LNG infrastructure has allowed for Europe to become the main destination for LNG from the United States. Within the span of one year, LNG imports from the U.S. had doubled in multiple European countries. Production declines as consumption remains high The European Union’s production of natural gas has been in decline for decades, and by 2022 fell to a low of 41 billion cubic meters. In comparison, natural gas consumption remains comparatively high, with the fossil fuel largely used for heating, electricity generation, and industrial purposes.

Graph and download economic data for Global price of Natural gas, EU (PNGASEUUSDA) from 1990 to 2024 about EU, gas, World, Europe, and price.

Natural gas producers are facing turbulent times. Europe has traditionally relied on Russia and Norway as internal sources of natural gas, while countries such as the US, Qatar and Algeria are a major source of imports. Russia’s invasion of Ukraine has shaken up Europe’s natural gas supply structure, with European governments making efforts to reduce their dependence on Russian gas supplies. Revenue is forecast to fall at a compound annual rate of 4.4% to €71.6 billion over the five years through 2024. Revenue expanded in 2021 as a sharp hike in natural gas prices and a post-pandemic rise in demand drove an increase in exploration and production activity. Russia’s invasion of Ukraine led to a spike in natural gas prices, with the impacts of reduced demand for gas and a decrease in Russian gas production outweighed by soaring wholesale prices and heightened demand for other natural gas reserves, spurring a jump in revenue. An ongoing reduction in demand for natural gas and easing prices caused revenue to dip in 2023. This trend is expected to continue into 2024, when revenue is slated to fall by 57%. Revenue is forecast to rise at a compound annual rate of 11.9% over the five years through 2029 to €125.3 billion. The gas market will continue to be shaped by geopolitical tensions into the medium term, with the International Energy Agency expecting natural gas prices to remain high until 2025 as countries continue to shift their supply structure. Following this, natural gas demand and prices are set to fall as Europe continues to expand its renewables capacity.

The consumption of natural gas in the European Union has fluctuated since 1998. It increased to a peak of 423.2 billion cubic meters in 2010, but by 2022 had fallen to around 319.5 billion cubic meters. Natural gas consumption in the EU was only lower than oil consumption, despite the overall decrease. Production of natural gas in decline Although the consumption of natural gas is expected to increase across the region, production in the EU has fallen significantly over the past two decades. By 2021 had fallen by approximately 81 percent. EU reliant on Russian exports With the production of natural gas in decline, the EU is expected to become more reliant on international imports. Overall, there was a six percent increase of imports in 2019 when compared to the previous year. Currently, the main exporter of gas to the EU is Russia, who in 2017 exported 39 percent of all imports. Plans for a 746-mile gas pipeline from Russia to Germany in the Baltic Sea are set to go ahead. The Nord Stream 2 project has received critics from the US and EU over fears it will increase Europe’s reliance on gas imports from Russia.

European Natural Gas Production by Country, 2023 Discover more data with ReportLinker!

European Exports of Natural Gas by Country, 2023 Discover more data with ReportLinker!

European Union Natural Gas Supply: EU 27E: Exports data was reported at 13,351.912 Cub m mn in Jan 2025. This records a decrease from the previous number of 13,980.783 Cub m mn for Dec 2024. European Union Natural Gas Supply: EU 27E: Exports data is updated monthly, averaging 25,702.431 Cub m mn from Jan 2014 (Median) to Jan 2025, with 133 observations. The data reached an all-time high of 37,434.300 Cub m mn in Jan 2017 and a record low of 11,972.056 Cub m mn in Sep 2023. European Union Natural Gas Supply: EU 27E: Exports data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.RB013: Natural Gas Supply and Consumption: by Cubic Meter. [COVID-19-IMPACT]

The report covers Europe Gas Companies and the market is Segmented by Application (Utilities, Industrial, and Commercial) and Geography (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The market size and forecasts are provided in terms of production capacity in billion cubic meters for all the above segments.

This dataset provides values for NATURAL GAS STOCKS INJECTION reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Germany has the highest natural gas consumption of any European Union Member State. In 2022, Germany's final energy consumption of natural gas reached over 50.77 million metric tons of oil equivalent. Natural gas is an important means of generating electricity and heat in the EU and also serves as a feedstock for multiple industrial manufacturing processes. The total natural gas share in final EU energy use stood at 19.7 percent that same year.

The average for 2021 based on 27 countries was 0.05 percent. The highest value was in Romania: 0.53 percent and the lowest value was in Belgium: 0 percent. The indicator is available from 1970 to 2021. Below is a chart for all countries where data are available.

China Export: Liquefied Natural Gas: Europe: Serbia data was reported at 0.000 USD th in Mar 2018. This stayed constant from the previous number of 0.000 USD th for Feb 2018. China Export: Liquefied Natural Gas: Europe: Serbia data is updated monthly, averaging 0.000 USD th from Jan 2008 (Median) to Mar 2018, with 123 observations. China Export: Liquefied Natural Gas: Europe: Serbia data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JL: Export by Country: Liquefied Natural Gas: Value.

European Gross Available Energy of Natural Gas by Country, 2023 Discover more data with ReportLinker!

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

• Natural Gas, spot price, Trading Hub Europe

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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