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.

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.

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.

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.

In 2023, the natural gas price for industries in the European Union with an annual consumption of less than 100 thousand gigajoules stood at an average 8.55 euro cents per kilowatt-hour. Prices for an annual consumption of 100,000 to one million gigajoules were typically cheaper, with Croatia recording the lowest price among European countries, at 5.4 euro cents per kilowatt-hour.

Stockholm is the most expensive European capital city for residential gas consumers. In January 2025, the average end-user gas price for households amounted to 33.27 euro cents per kilowatt-hour. Sweden only uses limited amounts of natural gas, making acquiring the commodity more expensive than elsewhere. On the other end of the spectrum, Kyiv recorded the lowest price in the region, with residents in the Ukrainian city paying an average 1.77 euro cents per kilowatt-hour.

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

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For industries with an annual consumption of 100,000 to 1,000,000 GJ in the European Union, natural gas prices were highest in Sweden, at 16.6 euro cents per kilowatt-hour in 2023. Finland followed, at 12.2 euro cents per kilowatt-hour. In contrast, the lowest prices were observed in Croatia, at 5.4 euro cents per kilowatt-hour.

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

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.

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.

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.

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.

European Union Natural Gas Price: HC: 200 GJ & Above: incl All Taxes & Levies: EU excl UK data was reported at 0.100 EUR/kWh in Jun 2024. This records an increase from the previous number of 0.100 EUR/kWh for Dec 2023. European Union Natural Gas Price: HC: 200 GJ & Above: incl All Taxes & Levies: EU excl UK data is updated semiannually, averaging 0.062 EUR/kWh from Jun 2007 (Median) to Jun 2024, with 35 observations. The data reached an all-time high of 0.113 EUR/kWh in Dec 2022 and a record low of 0.052 EUR/kWh in Dec 2007. European Union Natural Gas Price: HC: 200 GJ & Above: incl All Taxes & Levies: EU excl UK data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.P003: Eurostat: Natural Gas Price: Household Consumers.

Graph and download economic data for Harmonized Index of Consumer Prices: Gas for European Union (CP0452EUCCM086NEST) from Jan 1996 to Feb 2025 about EU, harmonized, gas, Europe, CPI, price index, indexes, and price.

European Union Natural Gas Price: NH: Between 10000 & 99999 GJ: excl Taxes & Levies: EA data was reported at 14.399 EUR/GJ in Jun 2024. This records a decrease from the previous number of 17.189 EUR/GJ for Dec 2023. European Union Natural Gas Price: NH: Between 10000 & 99999 GJ: excl Taxes & Levies: EA data is updated semiannually, averaging 8.993 EUR/GJ from Jun 2007 (Median) to Jun 2024, with 35 observations. The data reached an all-time high of 20.156 EUR/GJ in Jun 2023 and a record low of 6.561 EUR/GJ in Jun 2021. European Union Natural Gas Price: NH: Between 10000 & 99999 GJ: excl Taxes & Levies: EA data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.P004: Eurostat: Natural Gas Price: Non-Household Consumers.

In 2023, Sweden was the European Union member with the highest household natural gas price for an annual consumption greater than 200 gigajoules, at more than 20 euro cents per kilowatt-hour. The second-highest household gas price was recorded in the Netherlands, at 19.8 euro cents per kilowatt-hour. At the opposite end of the ranking, Hungary exhibited the lowest price for this consumption range, at 8.9 euro cents per kilowatt-hour.

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.

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Europe’s petroleum and natural gas extraction support services’ revenue is forecast to contract at a compound annual rate of 3.8% over the five years through 2024 to €62.1 billion. Widespread disruption caused by the COVID-19 pandemic weighed heavily on extraction and exploration activity in downstream oil and gas markets as poor demand conditions caused prices to plummet, disincentivising new investment and causing support service contractors to offer price concessions to customers, compounding the industry’s weak revenue performance and weighing on profitability. Demand has increased since lockdown restrictions eased, supporting revenue over 2021 and 2022. Russia’s invasion of Ukraine led to significant price increases in both oil and gas due to supply uncertainties. This also led to Norway becoming Europe’s largest natural gas supplier in 2022, supporting revenue opportunities for Norwegian contractors. Norway has also increased the level of investment into new oil and gas fields to alleviate uncertainties regarding supply following trade restrictions placed on Russian oil and gas. Nonetheless, weakening demand and falling oil and gas prices have contributed to an expected revenue slump of 20.3% in 2024. Over the five years through 2029, revenue is forecast to climb at a compound annual rate of 7% to €87.2 billion. New investments into oil and gas fields will provide contractors with new revenue opportunities, supporting revenue growth and expanding profitability. However, ongoing efforts across Europe to meet environmental and emissions targets, like net zero by 2050, will continue to threaten demand for oil and gas, somewhat limiting revenue growth.