UK Gas fell to 72.60 GBp/thm on December 2, 2025, down 1.67% from the previous day. Over the past month, UK Gas's price has fallen 11.75%, and is down 40.33% compared to the same time last year, 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 December of 2025.

The average gas price in Great Britain in July 2025 was 79.28 British pence per therm. This was five pence lower 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.

The National Balancing Point (NBP), the UK's natural gas benchmark, amounted to 78.76 British pence per therm on October 27, 2025, for contracts with delivery in November. Prices are generally higher in the winter months due to greater gas heating demand, especially in weeks of colder weather. The UK NBP, along with the Dutch TTF, serve as benchmarks for natural gas prices in Europe. Impact on consumer prices and household expenditure post-2022 Fluctuations in wholesale natural gas prices often have immediate impacts on UK consumers. In 2024, the consumer price index for gas in the UK rose to 146.2 index points, using 2015 as the base year. This increase has translated into higher household expenditure on gas, which reached approximately 18.71 billion British pounds in 2024. This figure represents a 40 percent increase from 2021, highlighting the growing financial burden on UK households. Consumption patterns and supply challenges The residential and commercial sectors remain the largest consumers of natural gas in the UK, using an estimated 42 billion cubic meters in 2024. This was followed by the power sector, which consumed about 13 billion cubic meters. The UK's reliance on gas imports has grown due to declining domestic production. This shift has led to an increased dependence on liquefied natural gas imports and pipeline inflows to meet demand.

Natural gas rose to 4.94 USD/MMBtu on December 3, 2025, up 2.04% from the previous day. Over the past month, Natural gas's price has risen 13.71%, and is up 62.29% compared to the same time last year, 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 December of 2025.

British gas price is expected to continuously increase until 2035, when prices are forecasted to stabilize. In 2035, low, central and high are expected to reach 43, 64 and 88 British pence per therm, respectively.

The high, central and low projections are used by Her Majesty's Government for policy appraisal and modeling work. Gas prices are influenced by a number of external factors, including new projects in places such as Australia, weather conditions affecting demand, and the price of oil relative to gas.

Gasoline Prices in the United Kingdom increased to 1.80 USD/Liter in November from 1.78 USD/Liter in October of 2025. This dataset provides the latest reported value for - United Kingdom Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Daily data showing SAP of gas, and rolling seven-day average, traded in Great Britain over the On-the-Day Commodity Market (OCM). These are official statistics in development. Source: National Gas Transmission.

The price of gas in the United Kingdom was *** British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to *** pence in the second quarter of 2025 before gradually falling to just under ** pence by the second quarter of 2027.
Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately ** percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of **** percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching **** percent, and food prices increasing by **** percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by *** percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

United Kingdom BOE Forecast: Gas Prices data was reported at 60.000 0.01 GBP/Therm in 2021. This records a decrease from the previous number of 61.000 0.01 GBP/Therm for 2020. United Kingdom BOE Forecast: Gas Prices data is updated yearly, averaging 56.500 0.01 GBP/Therm from Dec 2014 (Median) to 2021, with 8 observations. The data reached an all-time high of 71.000 0.01 GBP/Therm in 2018 and a record low of 37.000 0.01 GBP/Therm in 2015. United Kingdom BOE Forecast: Gas Prices data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.P009: Crude Oil and Gas Prices: Forecast.

Real-time natural gas (uk) price data updated every 5 minutes

The average monthly price for natural gas in the United States amounted to *** nominal U.S. dollars per million British thermal units (Btu) in October 2025. By contrast, natural gas prices in Europe were about three times higher than those in the U.S. Prices in 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 ** 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 ** percent between 2021 and 2024. 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 2024, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

The Gas Utilities industry in Europe has been anything but steady recently. The Russia-Ukraine war has rocked the whole supply chain, with Russia tightening its gas supply, Europe hustling to cut its reliance on Russian gas and gas prices shooting up following the initial invasion. Amid unprecedented price increases and threats to the supply of gas into Europe, European governments have been forced to step in to support customers and protect energy supplies. All that aside, the industry remains threatened by a long-term decline in gas consumption and accelerating efforts to transition to renewable sources of energy. Revenue is forecast to climb at a compound annual rate of 1.4% over the five years through 2025, reaching €401.9 billion. This growth is almost solely attributable to a spike in revenue recorded during 2022, which followed a recovery from pandemic-induced lows during 2021, when prices and demand recovered as global economic activity rebounded. Russia’s invasion of Ukraine kicked off a period of significant disruption in energy markets, with a surge in gas prices leading to record revenue and profitability for gas manufacturers while causing substantial losses for gas suppliers. Wholesale prices have eased from record highs as European governments have reduced reliance on Russian gas. At the same time, a drop in demand for gas has also contributed to a revenue contraction since the height of the energy crisis. Revenue is set to decline by 3.9% in 2025. Revenue is forecast to increase at a compound annual rate of 1% to €422.2 billion over the five years through 2030. European markets are set to pursue a green revolution in the coming years, with investment in renewable energy sources gathering pace as European governments strive towards emissions reduction targets. Investment in green alternatives to natural gas is likely to lead to a fall in demand, with plans set out by the European Commission to at least triple solar thermal capacity by 2030, displacing the consumption of nine billion cubic metres of gas annually. Gas prices are set to continue to stabilise in the short term, before falling rapidly as renewable generation capacity rises.

Wholesale price for natural gas in the United Kingdom is projected to rise from 47 to 64 British pence per therm between 2020 and 2035, respectively. Figures are expected to remain at 64 British pence per therm in 2040.

The price of gas in the United Kingdom was 80.1 British pence per therm in the third quarter of 2025. It is anticipated gas prices will increase to 85.4 pence in the first quarter of 2026 before gradually falling to just under 77.6 pence by the second quarter of of the year. Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately 91 percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of 11.1 percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching 26.6 percent, and food prices increasing by 18.2 percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by 3.7 percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

UK oil and natural gas production is on long-term decline as old oil and gas fields in the North Sea mature and near the end of their life cycle. Oil and gas extracting companies reaped the rewards of an upsurge in global prices through 2022-23, leading to sharp revenue growth. However, this quickly turned around in 2023-24, with most major companies’ revenue nosediving along with oil prices as oil and gas from America flooded the market, slightly outpacing demand. Still, revenue is expected to expand at a compound annual rate of 5.1% over the five years through 2025-26 to £23 billion, owing primarily to the significant price hikes of 2021-22 and 2022-23. This includes a forecast dip of 4.3% in 2025-26, owing to oil and gas prices edging down. Profit is also slated to fall over the year. Global oil and gas prices greatly affect the industry's performance, with the Organisation of the Petroleum Exporting Countries (OPEC) putting supply cuts in place and global tensions resulting in price peaks and troughs. In October 2022, OPEC instituted a supply cut of two million barrels of crude oil per day, driving Brent Crude Oil prices up to US$110 (£87.80) per barrel, which was extended until March 2025. At the same time, the sanctions on Russian oil and gas imports because of the Russia-Ukraine conflict add further impetus to prices. The EU has banned imports of Russian-made oil and gas, providing opportunities for UK exporters. Crude oil prices remain high, but significant oil production from non-OPEC countries has made oil prices plummet since July 2024. Despite mounting tensions in the Middle East having the potential to cut oil supply from the region, the ongoing political tensions have yet to significantly impact global prices, with prices falling by 15.8% in the year to August 2025. Oil and gas prices are likely to continue inching downwards in the coming years. The UK government has implemented policies to create a more favourable environment for extractors in the North Sea to improve UK energy security. However, the depletion of natural resources, the high cost of extraction, low gas and oil prices and the global energy transition will threaten the industry's long-term viability. Revenue is forecast to climb at a compound annual rate of 2% over the five years through 2030-31 to £25.4 billion, supported by two new major oil and gas fields, Jackdaw and Rosebank.

The Steam and Air Conditioning Supply industry in Europe is evolving rapidly, driven by a shift towards sustainable energy solutions and diversification away from traditional fossil fuels. Rising temperatures and urbanisation, combined with policy support for district heating and cooling networks, having driven increased uptake of industry services in recent years. Revenue is forecast to increase at a compound annual rate of 5.6% over the five years through 2025, reaching €101.8 billion. The industry has navigated significant volatility over the past five years, underpinned by huge fluctuations in energy prices across the continent. A surge in natural gas prices stemming from Russia’s full-scale invasion of Ukraine spurred a significant hike in input costs incurred by industry operators, contributing to strong revenue growth over the two years through 2022. Profitability took a hit as a result of rising input costs; however, long-term supply contracts, and an accelerated diversification away from combustion sources prevented widespread losses. Revenue has since dropped-off in line with tumbling natural gas prices, though once again, the long-term nature of contracts has limited the decline. Revenue is set to inch up by 0.6% in the current year. Revenue is forecast to grow at a compound annual rate of 4.9% over the five years through 2030, reaching €129.1 billion. Ongoing urbanisation and supportive government policy is set to contineu to drive increased uptake of district heating and cooling solutions. The transition from combustion sources to renewables is essential as the industry seeks to position itself as a key enabler towards the continents climate targets. The deployment of large-scale heat pumps represents the most viable method of decarbonising district heating and cooling networks in the coming years, though significant investment will be required in order to retrofit existing systems and build new facilities, with huge capital requirements set to drive up capital expenditure.

The European oil and gas storage tank market, valued at approximately €15 billion in 2025, exhibits robust growth potential, projected to expand at a compound annual growth rate (CAGR) exceeding 3% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, increasing energy demand across Europe necessitates enhanced storage infrastructure to ensure supply security and manage fluctuating energy prices. The ongoing transition towards renewable energy sources, while presenting long-term challenges, also creates short-term demand for storage solutions as intermittent renewable energy needs buffering. Furthermore, stringent environmental regulations are driving the adoption of advanced tank technologies with improved safety and emission control features. This is further boosted by geopolitical factors impacting energy supply chains, prompting a focus on regional energy independence and reliable storage solutions. Competitive landscape analysis shows that major players like Royal Vopak NV, Oiltanking GmbH, and others are strategically investing in capacity expansion and technological upgrades to cater to this burgeoning market. However, the market faces challenges, including high upfront capital investment for new tank construction and maintenance, and the need to comply with evolving environmental regulations. Segmentation within the market highlights a significant role for the downstream sector, driven by increased demand for refined products. Upstream and midstream segments also contribute substantially, supporting the exploration and production of oil and gas, and facilitating their transportation and distribution respectively. Regional variations exist, with Germany, the United Kingdom, Norway, and Spain representing major market segments due to their established industrial infrastructure and energy consumption patterns. While precise regional breakdowns are unavailable from the provided data, we can infer that Germany and the UK likely hold the largest market shares given their economic size and existing energy infrastructure. Continued investment in storage capacity, coupled with technological advancements and regulatory compliance, will be crucial to ensuring the long-term growth trajectory of the European oil and gas storage tank market. Recent developments include: September 2022: Germany's natural gas storage facilities reached more than 85%, displaying steady progress despite a drastic reduction in deliveries from Russia amid the war in Ukraine. The government's target to reach 85% storage capacity by October was achieved at the beginning of September., July 2022: Germany and Austria signed a deal to accelerate filling gas storage facilities. With the signing of a bilateral solidarity agreement, the two countries agreed to cooperate on the use of liquefied natural gas (LNG) infrastructure and storage filling.. Notable trends are: Midstream to Witness Significant Growth.

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LNG Carriers Market Size 2024-2028

The lng carriers market size is forecast to increase by USD 3600 billion, at a CAGR of 4.62% between 2023 and 2028.

The LNG carrier market is experiencing significant growth, driven primarily by the increasing demand for natural gas as a cleaner alternative fuel. This shift towards cleaner energy sources is a global trend, with numerous countries and industries seeking to reduce their carbon footprint. Additionally, fluctuations in oil and gas prices continue to influence the market dynamics. While the volatility in oil prices presents both opportunities and challenges, the long-term trend of declining oil prices is expected to boost the demand for LNG as a cost-effective alternative. However, the market faces several challenges. First, the high capital costs associated with building and operating LNG carriers can be a barrier to entry for new players.
Second, the complex nature of LNG value chains, including production, transportation, and regasification, requires extensive expertise and coordination among various stakeholders. Lastly, the lack of infrastructure for LNG storage and distribution in some regions limits the market's growth potential. Companies seeking to capitalize on the opportunities presented by the LNG carrier market must navigate these challenges effectively by building strategic partnerships, investing in infrastructure, and leveraging their expertise to deliver cost-effective and efficient solutions.

What will be the Size of the LNG Carriers Market during the forecast period?

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The liquefied natural gas (LNG) carrier market continues to evolve, shaped by various market dynamics that impact different sectors of the industry. Emissions reduction is a key driver, with the adoption of dual-fuel engines and cryogenic technology in LNG carriers reducing greenhouse gas emissions. Weather routing and route optimization help improve fuel efficiency and reduce fuel costs in the LNG price-sensitive market. Gas infrastructure development, including liquefaction plants and LNG terminals, influences the supply and demand dynamics of the global LNG trade. Independent tanker operators and fleet management companies play a crucial role in optimizing vessel operations, ensuring safety systems, and maintaining fuel efficiency.

Ballast water management and crew training are essential components of LNG vessel operations, ensuring compliance with environmental regulations. The ongoing evolution of smart shipping and methane slip technologies contributes to the continuous optimization of LNG fueling and cargo handling processes. Freight rates, natural gas exports, and cargo hold capacity are influenced by the interplay of gas demand, LNG supply chain efficiency, and market volatility. The spot market and time charter contracts offer flexibility in the LNG transportation sector, while long-term contracts provide stability. LNG projects and fleet renewal are critical to meeting the growing demand for LNG fuel and maintaining a modern and efficient LNG carrier fleet.

The ongoing energy transition towards cleaner fuels and the increasing importance of data analytics and remote monitoring further shape the LNG carrier market's future trajectory. Pressure relief systems and hull design innovations contribute to the ongoing optimization of LNG transportation, ensuring safe and efficient gas transportation across diverse trade routes. The LNG infrastructure and tank capacity expansion continue to support the growth of the global LNG trade, making it a dynamic and evolving market.

How is this LNG Carriers Industry segmented?

The lng carriers industry 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.

Type

  Membrane
  Moss


Geography

  Europe

    Greece
    UK


  Middle East and Africa

    Qatar


  APAC

    Japan
    Malaysia


  Rest of World (ROW)

By Type Insights

The membrane segment is estimated to witness significant growth during the forecast period.

Liquefied Natural Gas (LNG) carriers play a crucial role in the global energy transition by transporting this cleaner fuel from production sites to consumers. Membrane containment systems, a key component of these carriers, consist of insulated cargo tanks enclosed within an inner hull and protected by an outer hull. The spaces between the hulls serve as ballast and provide additional safety during emergencies. Membrane containment systems offer enhanced visibility compared to moss-type containments, which have protruding structures that can obstruct sightlines. Furthermore, membrane tanks have a higher carrying capacity, with a 10.27% increase in loading capacity under identical ship dimensions.

Cryogenic technology is integral to LNG carrier

BOE Forecast：天然气价格在12-01-2021达60.0000.01 GBP/Therm，相较于12-01-2020的61.0000.01 GBP/Therm有所下降。BOE Forecast：天然气价格数据按年更新，12-01-2014至12-01-2021期间平均值为56.5000.01 GBP/Therm，共8份观测结果。该数据的历史最高值出现于12-01-2018，达71.0000.01 GBP/Therm，而历史最低值则出现于12-01-2015，为37.0000.01 GBP/Therm。CEIC提供的BOE Forecast：天然气价格数据处于定期更新的状态，数据来源于Bank of England，数据归类于全球数据库的英国 – 表 UK.RB028：原油和天然气价格：预测：英格兰银行。

As of August 2025, the average annual price of Brent crude oil stood at 71.3 U.S. dollars per barrel. This is over nine U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.