How much does gas cost this Tuesday, July 2, 2024?

The dynamics of international gas markets show significant fluctuations, impacted by a multitude of factors, ranging from global energy policy to climatic conditions. On July 2, 2024, notable movements were observed on the main price indices. This article offers an analysis of these developments, market by market.

Liquefied natural gas in Japan (World Bank)

The price of liquefied natural gas (LNG) in Japan, according to the World Bank, is 11,8 USD/MMBtu as of May 31, 2024. This country, largely dependent on the import of energy resources due to its low level of domestic energy resources, serves as a significant indicator of the Asian LNG market. Japanese demand exerts a major influence on global LNG prices.

Gaz naturel Henry Hub

The price at the Henry Hub, a major reference on the American market, was 2,478 USD/MMBtu July 1, 2024. The Henry Hub in Louisiana is the distribution point and reference price for natural gas in North America, reflecting supply and demand specific to the U.S. market.

Natural Gas TTF

In Europe, the Dutch-based TTF (Title Transfer Facility) index indicates a price of 33,43 EUR/MWh July 1, 2024. The TTF serves as the primary benchmark for natural gas traded physically and in derivatives, reflecting market conditions in Europe.

World Bank Natural Gas Index

The overall natural gas index, as measured by the World Bank, was 82 points May 31, 2024. This index provides a global perspective on gas prices, integrating various international markets.

Natural gas in Europe and the United States (World Bank)

According to the World Bank, the price of natural gas in Europe stood at 10,12 USD/MMBtu and in the United States at 2,13 USD/MMBtuboth as of May 31, 2024. These figures highlight the gaps between these two regions, influenced by factors such as resource availability and geopolitics.

Propane and Gas in the UK

Propane, a key hydrocarbon in the energy industry, was listed at 0,84583 USD/Gal July 1, 2024. At the same time, the price of gas in the UK was 78,04 GBP/Thm on the same date, showing the diversity of prices and components of the gas sector.

Summary table of gas prices as of July 2, 2024