how much does gas cost this Friday May 24, 2024?

how much does gas cost this Friday May 24, 2024?
how much does gas cost this Friday May 24, 2024?

The natural gas industry plays a crucial role in the global economy, serving as both a fuel for electricity generation and a raw material in various industries. On this Friday, May 24, 2024, let’s take a look at recent gas prices across different international markets, each with its own specificities.

Liquefied natural gas in Japan (World Bank)

The Japanese market is a key player in the importation of liquefied natural gas (LNG), with the price amounting to 13.26 USD/MMBtu as of April 30, 2024. Japan, lacking significant natural resources, relies heavily on LNG to meet its energy demand, making it a crucial market for LNG exporters.

Henry Hub – US Natural Gas Benchmark

The Henry Hub, the undisputed benchmark for natural gas pricing in the United States, displays a price of 2.657 USD/MMBtu through May 23, 2024. This hub serves as a benchmark price point for the North American market, reflecting domestic natural gas supply and demand.

Natural gas TTF – European gas marketplace

The Title Transfer Facility (TTF) in the Netherlands has become the main reference for natural gas in Europe, with a price of 35.36 EUR/MWh to May 23, 2024. This marketplace illustrates the growing integration and liquidity of the European natural gas market.

Natural Gas Index (World Bank)

The global natural gas market index set by the World Bank stands at 71.56 points as of April 30, 2024, an important indicator for assessing the general trend in gas prices on the global stage.

Natural gas in Europe (World Bank)

In addition to the TTF index, the World Bank provides another assessment of the gas price in Europe, rated at 9.09 USD/MMBtu to April 30, 2024, highlighting the different approaches to pricing on this continent.

Natural gas in the United States (World Bank)

The price of natural gas in the United States given by the World Bank is 1.6 USD/MMBtu as of April 30, 2024, illustrating the dynamics of the American market.

Propane

Propane, another important hydrocarbon, is listed at 0.70418 USD/Gal as of May 23, 2024, demonstrating its market value in various industrial and heating sectors.

Natural gas in the UK

The British gas market sees its price at 85.31 GBP/Thm to 23 May 2024, reflecting the particularities of the United Kingdom’s energy market, particularly in terms of diversification of supply sources and energy security strategies.

Summary table of gas prices

Hint Last value Date
Liquefied natural gas, Japan (World Bank) 13.26 USD/MMBtu 04/30/2024
Henry Hub Natural Gas 2.657 USD/MMBtu 05/23/2024
Natural gas TTF 35.36 EUR/MWh 05/23/2024
Natural Gas Index (World Bank) 71.56 Points 04/30/2024
Natural gas in Europe (World Bank) 9.09 USD/MMBtu 04/30/2024
Natural gas in the United States (World Bank) 1.6 USD/MMBtu 04/30/2024
Propane 0.70418 USD/Gal 05/23/2024
UK Gas 85.31 GBP/Thm 05/23/2024
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