Review of natural gas prices, reserves production, and trade

In 2022, growth in natural gas prices was significant across all markets (~+160% in Europe, +130% in Asia and +90% in the USA), with a strong increase after the beginning of hostilities in Ukraine and reaching historical maxima in late August (over €300/MWh in Europe). The cut to Russian supplies (-55%) to Europe via pipeline as a response to the sanctions imposed on Russia by the EU, the uncertainties linked to the conflict and some external factors (drought during the summer, reduced French nuclear generation) contributed to the extreme volatility and peaks in the price of natural gas. Gas demand […]