Global monthly natural gas price index 2022-2024
The global natural gas price index stood at 207.9 index points in November 2024. Natural gas prices increased by nearly 20 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.
