Europe Natural Gas Price Monthly and Annualy

The Price of Europe Natural Gas in International Commodity Markets for April 2024 is 9.090 dollars per mmbtu, as estimated by the World Bank. In comparison to the previous month, March 2024, when Europe Natural Gas was valued at 8.55 dollars per mmbtu, there has been a net change of 0.54 dollars. This represents a percentage increase of 5.94%. Looking back to April 2023, the Europe Natural Gas price stood at 13.52 dollars per mmbtu. The current data reflects a dynamic market with a modest increase in Europe Natural Gas prices from April 2023 to April 2024, signaling potential shifts in global economic trends.

Europe Natural Gas Price in Last 12 Months World Bank

Source: World-bank
Last Updated: 25 May 2024
Index Last 12 Months Nominal US Dollars($/mmbtu) Net-Chg Percentage-Chg
13April 2023$ 13.52--
12May 2023$ 10.11 $ -3.41-33.73 %
11June 2023$ 10.35 $ 0.242.32 %
10July 2023$ 9.55 $ -0.80-8.38 %
9August 2023$ 11.19 $ 1.6414.66 %
8September 2023$ 11.55 $ 0.363.12 %
7October 2023$ 14.57 $ 3.0220.73 %
6November 2023$ 14.49 $ -0.08-0.55 %
5December 2023$ 11.51 $ -2.98-25.89 %
4January 2024$ 9.56 $ -1.95-20.40 %
3February 2024$ 8.15 $ -1.41-17.30 %
2March 2024$ 8.55 $ 0.404.68 %
1April 2024$ 9.09 $ 0.545.94 %

Europe Natural Gas Price Annual World Bank

Europe Natural Gas Price in 2023 was 13.11 dollars per mmbtu estimated by the world bank.

In the previous year, 2022 Europe Natural Gas Price was 40.34 dollars per mmbtu. The net change in Europe Natural Gas Price in 2023 was -27.23 dollars which is about a -207.7% decrease in price.

Source: World-bank
Year Price Nominal US Dollars($/mmbtu) Net-ChangePercentage-Change
1960 $ 0.40--
1961 $ 0.40 $ 0.000.00 %
1962 $ 0.40 $ 0.000.00 %
1963 $ 0.39 $ -0.01-2.56 %
1964 $ 0.38 $ -0.01-2.63 %
1965 $ 0.41 $ 0.037.32 %
1966 $ 0.42 $ 0.012.38 %
1967 $ 0.46 $ 0.048.70 %
1968 $ 0.45 $ -0.01-2.22 %
1969 $ 0.45 $ 0.000.00 %
1970 $ 0.45 $ 0.000.00 %
1971 $ 0.50 $ 0.0510.00 %
1972 $ 0.54 $ 0.047.41 %
1973 $ 0.69 $ 0.1521.74 %
1974 $ 1.73 $ 1.0460.12 %
1975 $ 1.68 $ -0.05-2.98 %
1976 $ 1.74 $ 0.063.45 %
1977 $ 1.79 $ 0.052.79 %
1978 $ 2.30 $ 0.5122.17 %
1979 $ 3.26 $ 0.9629.45 %
1980 $ 4.22 $ 0.9622.75 %
1981 $ 4.60 $ 0.388.26 %
1982 $ 4.45 $ -0.15-3.37 %
1983 $ 4.05 $ -0.40-9.88 %
1984 $ 3.76 $ -0.29-7.71 %
1985 $ 3.65 $ -0.11-3.01 %
1986 $ 3.65 $ 0.000.00 %
1987 $ 2.59 $ -1.06-40.93 %
1988 $ 2.36 $ -0.23-9.75 %
1989 $ 2.09 $ -0.27-12.92 %
1990 $ 2.82 $ 0.7325.89 %
1991 $ 3.11 $ 0.299.32 %
1992 $ 2.56 $ -0.55-21.48 %
1993 $ 2.67 $ 0.114.12 %
1994 $ 2.44 $ -0.23-9.43 %
1995 $ 2.73 $ 0.2910.62 %
1996 $ 2.84 $ 0.113.87 %
1997 $ 2.74 $ -0.10-3.65 %
1998 $ 2.42 $ -0.32-13.22 %
1999 $ 2.13 $ -0.29-13.62 %
2000 $ 3.86 $ 1.7344.82 %
2001 $ 4.06 $ 0.204.93 %
2002 $ 3.05 $ -1.01-33.11 %
2003 $ 3.91 $ 0.8621.99 %
2004 $ 4.28 $ 0.378.64 %
2005 $ 6.33 $ 2.0532.39 %
2006 $ 8.47 $ 2.1425.27 %
2007 $ 8.56 $ 0.091.05 %
2008 $ 13.41 $ 4.8536.17 %
2009 $ 8.71 $ -4.70-53.96 %
2010 $ 8.29 $ -0.42-5.07 %
2011 $ 10.52 $ 2.2321.20 %
2012 $ 11.47 $ 0.958.28 %
2013 $ 11.79 $ 0.322.71 %
2014 $ 10.05 $ -1.74-17.31 %
2015 $ 6.82 $ -3.23-47.36 %
2016 $ 4.56 $ -2.26-49.56 %
2017 $ 5.72 $ 1.1620.28 %
2018 $ 7.68 $ 1.9625.52 %
2019 $ 4.80 $ -2.88-60.00 %
2020 $ 3.24 $ -1.56-48.15 %
2021 $ 16.12 $ 12.8879.90 %
2022 $ 40.34 $ 24.2260.04 %
2023 $ 13.11 $ -27.23-207.70 %

Introduction

In recent years, the Europe natural gas price has become a topic of interest and concern for both consumers and industry experts. The volatility and fluctuations in the price of natural gas in Europe have significant implications for energy markets, economic growth, and the overall cost of living.

 1. Supply and Demand Dynamics

The primary driver of natural gas prices in Europe is the interplay between supply and demand. The availability of natural gas reserves, both domestically and through imports, affects the overall supply in the market. Simultaneously, factors such as weather conditions, economic activity, and energy consumption patterns influence the demand for natural gas.

 2. Infrastructure and Transportation Costs

The infrastructure required to transport natural gas plays a vital role in determining its price. Europe relies on an extensive pipeline network and liquefied natural gas (LNG) terminals for imports. The costs associated with constructing and maintaining this infrastructure, along with transportation fees, impact the final price of natural gas for consumers.

 3. Geopolitical Factors

Geopolitical factors can have a significant influence on natural gas prices in Europe. Political tensions, conflicts, and trade disputes between gas-producing countries and consumer nations can disrupt the supply chain and lead to price fluctuations. For example, interruptions in gas deliveries from Russia, one of the largest suppliers to Europe, cause price spikes.

 4. Environmental Regulations and Renewable Energy Transition

The increasing focus on reducing greenhouse gas emissions and transitioning to renewable energy sources has a bearing on natural gas prices. Stringent environmental regulations and policies aimed at promoting renewable energy can impact the demand for natural gas and, consequently, its price. The expansion of renewable energy infrastructure and the integration of clean technologies may contribute to a decline in natural gas consumption and, in turn, its price.

 5. Seasonal Variations and Weather Patterns

Natural gas demand experiences seasonal variations due to weather patterns. During colder months, the need for natural gas for heating purposes increases, leading to higher demand and potentially higher prices. Similarly, a mild winter or a surplus in natural gas storage can lead to lower prices.

 6. Economic Factors and Global Energy Markets

The state of the global economy and energy markets can influence natural gas prices. Economic growth or contraction impacts energy consumption levels, which, in turn, affect natural gas demand. Additionally, fluctuations in oil prices can indirectly impact natural gas prices since they are often linked through indexed contracts or energy market interdependencies.

 7. Currency Exchange Rates

The value of currencies in Europe can affect the price of natural gas. Since natural gas is often traded in US dollars, fluctuations in exchange rates between the dollar and the Euro or other European currencies can impact the cost of importing gas, ultimately influencing the market price.

Currency Exchange Rate

 8. Technological Advancements and Exploration

Technological advancements in natural gas exploration and extraction techniques can influence the overall supply and cost of natural gas. Innovations such as hydraulic fracturing (fracking) have unlocked previously inaccessible gas reserves, leading to increased supply and potentially lower prices. Additionally, advancements in liquefaction and transportation technologies for LNG can impact the availability and cost of imported natural gas.

 9. Market Liberalization and Competition

The liberalization of natural gas markets and the introduction of competition can also play a role in price fluctuations. As more players enter the market, increased competition can put downward pressure on prices. Market reforms, deregulation, and the establishment of gas trading hubs can contribute to a more competitive and price-responsive market.

 10. Future Outlook and Price Forecasts

Predicting the future price of natural gas in Europe is a challenging task due to the complex interplay of various factors. However, several trends and developments can shape the future outlook. The continued expansion of renewable energy sources, advancements in energy storage technologies, geopolitical developments, and regulatory policies aimed at decarbonization will likely influence natural gas prices in the coming years.

Conclusion

In conclusion, the Europe natural gas price is subject to a multitude of factors that affect its supply and demand dynamics. From geopolitical tensions to seasonal variations and technological advancements, each factor contributes to the overall price fluctuations. While predicting future prices is uncertain, understanding these factors can provide insights into the potential trends and outlook for natural gas prices in Europe. As the energy landscape continues to evolve, monitoring these factors will be crucial for consumers, policymakers, and industry stakeholders to navigate the complexities of the European natural gas market.