Europe's Natural Gas Price in International Commodity Markets in October 2023 is about 14.57 dollars per mmbtu estimated by World Bank. In the Previous Month, September 2023 Europe's natural gas worth was 11.55 dollars per mmbtu. Last year in October 2022, the price was 39.02 dollars per mmbtu.
| Index | Last 12 Months | Nominal US Dollars($/mmbtu) | Net-Chg | Percentage-Chg |
|---|---|---|---|---|
| 13 | October 2022 | $ 39.02 | - | - |
| 12 | November 2022 | $ 35.72 | $ -3.30 | -9.24 % |
| 11 | December 2022 | $ 36.04 | $ 0.32 | 0.89 % |
| 10 | January 2023 | $ 20.18 | $ -15.86 | -78.59 % |
| 9 | February 2023 | $ 16.54 | $ -3.64 | -22.01 % |
| 8 | March 2023 | $ 13.81 | $ -2.73 | -19.77 % |
| 7 | April 2023 | $ 13.52 | $ -0.29 | -2.14 % |
| 6 | May 2023 | $ 10.11 | $ -3.41 | -33.73 % |
| 5 | June 2023 | $ 10.35 | $ 0.24 | 2.32 % |
| 4 | July 2023 | $ 9.55 | $ -0.80 | -8.38 % |
| 3 | August 2023 | $ 11.19 | $ 1.64 | 14.66 % |
| 2 | September 2023 | $ 11.55 | $ 0.36 | 3.12 % |
| 1 | October 2023 | $ 14.57 | $ 3.02 | 20.73 % |
Europe Natural Gas Price in 2022 was 40.34 dollars per mmbtu estimated by the world bank. In the previous year, 2021 Europe Natural Gas Price was 16.12 dollars per mmbtu. The net change in Europe Natural Gas Price in 2022 was 24.22 dollars which is about a 60.04 % increase in price.
| Year | Price Nominal US Dollars($/mmbtu) | Net-Change | Percentage-Change |
|---|---|---|---|
| 1960 | $ 0.40 | - | - |
| 1961 | $ 0.40 | $ 0.00 | 0.00 % |
| 1962 | $ 0.40 | $ 0.00 | 0.00 % |
| 1963 | $ 0.39 | $ -0.01 | -2.56 % |
| 1964 | $ 0.38 | $ -0.01 | -2.63 % |
| 1965 | $ 0.41 | $ 0.03 | 7.32 % |
| 1966 | $ 0.42 | $ 0.01 | 2.38 % |
| 1967 | $ 0.46 | $ 0.04 | 8.70 % |
| 1968 | $ 0.45 | $ -0.01 | -2.22 % |
| 1969 | $ 0.45 | $ 0.00 | 0.00 % |
| 1970 | $ 0.45 | $ 0.00 | 0.00 % |
| 1971 | $ 0.50 | $ 0.05 | 10.00 % |
| 1972 | $ 0.54 | $ 0.04 | 7.41 % |
| 1973 | $ 0.69 | $ 0.15 | 21.74 % |
| 1974 | $ 1.73 | $ 1.04 | 60.12 % |
| 1975 | $ 1.68 | $ -0.05 | -2.98 % |
| 1976 | $ 1.74 | $ 0.06 | 3.45 % |
| 1977 | $ 1.79 | $ 0.05 | 2.79 % |
| 1978 | $ 2.30 | $ 0.51 | 22.17 % |
| 1979 | $ 3.26 | $ 0.96 | 29.45 % |
| 1980 | $ 4.22 | $ 0.96 | 22.75 % |
| 1981 | $ 4.60 | $ 0.38 | 8.26 % |
| 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 | $ 0.00 | 0.00 % |
| 1987 | $ 2.59 | $ -1.06 | -40.93 % |
| 1988 | $ 2.36 | $ -0.23 | -9.75 % |
| 1989 | $ 2.09 | $ -0.27 | -12.92 % |
| 1990 | $ 2.82 | $ 0.73 | 25.89 % |
| 1991 | $ 3.11 | $ 0.29 | 9.32 % |
| 1992 | $ 2.56 | $ -0.55 | -21.48 % |
| 1993 | $ 2.67 | $ 0.11 | 4.12 % |
| 1994 | $ 2.44 | $ -0.23 | -9.43 % |
| 1995 | $ 2.73 | $ 0.29 | 10.62 % |
| 1996 | $ 2.84 | $ 0.11 | 3.87 % |
| 1997 | $ 2.74 | $ -0.10 | -3.65 % |
| 1998 | $ 2.42 | $ -0.32 | -13.22 % |
| 1999 | $ 2.13 | $ -0.29 | -13.62 % |
| 2000 | $ 3.86 | $ 1.73 | 44.82 % |
| 2001 | $ 4.06 | $ 0.20 | 4.93 % |
| 2002 | $ 3.05 | $ -1.01 | -33.11 % |
| 2003 | $ 3.91 | $ 0.86 | 21.99 % |
| 2004 | $ 4.28 | $ 0.37 | 8.64 % |
| 2005 | $ 6.33 | $ 2.05 | 32.39 % |
| 2006 | $ 8.47 | $ 2.14 | 25.27 % |
| 2007 | $ 8.56 | $ 0.09 | 1.05 % |
| 2008 | $ 13.41 | $ 4.85 | 36.17 % |
| 2009 | $ 8.71 | $ -4.70 | -53.96 % |
| 2010 | $ 8.29 | $ -0.42 | -5.07 % |
| 2011 | $ 10.52 | $ 2.23 | 21.20 % |
| 2012 | $ 11.47 | $ 0.95 | 8.28 % |
| 2013 | $ 11.79 | $ 0.32 | 2.71 % |
| 2014 | $ 10.05 | $ -1.74 | -17.31 % |
| 2015 | $ 6.82 | $ -3.23 | -47.36 % |
| 2016 | $ 4.56 | $ -2.26 | -49.56 % |
| 2017 | $ 5.72 | $ 1.16 | 20.28 % |
| 2018 | $ 7.68 | $ 1.96 | 25.52 % |
| 2019 | $ 4.80 | $ -2.88 | -60.00 % |
| 2020 | $ 3.24 | $ -1.56 | -48.15 % |
| 2021 | $ 16.12 | $ 12.88 | 79.90 % |
| 2022 | $ 40.34 | $ 24.22 | 60.04 % |
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.
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.
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.
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.
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.
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.
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.
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 RateTechnological 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.
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.
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.
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.