Natural gas price benchmarks – November

The gas map is back: prices continued to moderate down in November on unseasonably mild weather in Europe and Asia, offsetting the effect of tightening gas supply.

RELATED POSTS

Weekly review of natural gas and LNG prices

3 days ago

Weekly review of natural gas and LNG prices

1 week ago

TTF-JKM correlation hit record levels in the first half of 2025

2 weeks ago

In Europe, TTF prices dropped by 10% compared to October, to average at $35/mmbtu. unseasonably mild weather and record inflow of LNG depressed European gas prices, despite Russian piped flows down by 80% yoy.

In Asia, JKM prices followed suite, down by 14% to $28/mmbtu. mild weather, covid lockdowns in China and tanktop situations all weighed on gas prices. China’s demand remained depressed, trending down compared to last year.

In the US, Henry Hub prices dropped by 6% to $5.4/mmbtu. while demand remains strong, exports are lower than expected, due to the prolonged Freeport outage. in Canada, AECO surged by over 80% to $4.6/mmbtu, amidst coldspells boosting space heating demand.

Source: Greg Molnar (LinkedIn)