| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Natural Gas | USA | FOB | USD 2.94/Mbtu | May 2026 |
| Natural Gas | Saudi Arabia | FOB | USD 95.28/Mbtu | May 2026 |
| Natural Gas | Netherlands | FOB | USD 188.73/MMBtu | May 2026 |
| Natural Gas | Japan | FOB | USD 256.07/MMBtu | May 2026 |
| Natural Gas | India | FOB | USD 323.41/Mbtu | May 2026 |
| Natural Gas | USA | FOB | USD 2.77/Mbtu | April 2026 |
| Natural Gas | Saudi Arabia | FOB | USD 750.00/MT | April 2026 |
| Natural Gas | Netherlands | FOB | USD 45.99/MMBtu | April 2026 |
| Natural Gas | Japan | FOB | USD 17.08/MMBtu | April 2026 |
| Natural Gas | India | FOB | USD 10.76/Mbtu | April 2026 |
Stay updated with the latest Natural Gas prices, historical data, and tailored regional analysis
Asia
Asian natural gas markets remained highly sensitive to LNG supply risk in Q2 2026. The main pressure came from Qatar’s force majeure notices for June and July cargoes, as the Strait of Hormuz normally handles roughly one-fifth of global LNG and oil supply. Australian supply also tightened when industrial action disrupted the Ichthys LNG project, which has 9.3 million MT/year of capacity and supplies about 70% of output to Japanese buyers. However, additional U.S. cargoes helped ease the shortage, with shipments to Asia rising from 970,000 MT in February to 2.71 million MT in April and 3.68 million MT in May. The demand for natural gas remained uneven and showed regional variations: China’s LNG imports recovered in May, Taiwan increased spot buying, while Japan and South Korea reduced import volumes.
Europe
Europe remained exposed to LNG competition because Asian buying pulled flexible cargoes away whenever the Asia premium strengthened. The region did not face the same immediate supply panic as Asia, but storage replenishment needs kept it active in the global LNG market. When Hormuz flows resumed and Australian loadings recovered, Europe benefited indirectly through lower competition for Atlantic Basin cargoes. However, any renewed Qatari disruption would again tighten European replacement options, especially as Asian utilities and European storage buyers compete for the same flexible LNG supply.
North America
In the United States, Natural Gas prices were ~USD 2.77/Mbtu in April and ~USD 2.94/Mbtu in May, showing a ~6.1% increase. The rise was supported by stronger LNG export pull, as U.S. cargoes were redirected toward higher-value Asian markets. North America remained better supplied than importing regions, but export demand linked the domestic market more closely to global LNG disruptions. Higher shipments to Asia tightened available export balance and supported U.S. pricing.
Analyst Insight
According to Procurement Resource, in the near term, natural gas prices may stay volatile. Restored Hormuz traffic and resumed Australian output can ease prices, but Qatari repair delays and summer cooling demand may keep support intact.
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Asia
Asian natural gas markets were extremely volatile due to supply disruption caused by the Iran war and blockage of the Strait of Hormuz, which affected the supply of natural gas from Qatar and the UAE, accounting for almost 20% of the world’s total production. About 50% of India’s natural gas requirement is met through imports, out of which approximately 60 million standard cubic meters per day is imported from the Middle East, making India very vulnerable to any kind of disruption. This resulted in prioritizing the supply of natural gas to fertilizers and domestic sectors, limiting the supply to industries. Even though international prices surged, domestic prices fell from INR 15.25/kg (Contract FD) in January to INR 11.88/kg in March, representing a decline of 22.1%.
Europe
In Europe, natural gas prices witnessed upward movement owing to low LNG supplies and competition from Asia. The diversion of the cargoes towards Asia created supply shortages in Europe, with stockpiling being below average for the season. This increased the need to procure more natural gas, which saw the cessation of the supply of LNG from Qatar and the disruption of the passage through the Strait of Hormuz, further intensifying the supply shortage problem. There was a shift in trade flows, with the United States exporting more natural gas to Europe, at about 22.7 million tons in Q1’26. Demand for natural gas from industries and chemicals was subdued.
North America
Natural gas markets in North America remained stable, despite the logistical problems experienced in other regions, owing to adequate domestic production and exports. The United States operated at full LNG export capacity, making it impossible for it to increase supply and compensate for the losses incurred worldwide, owing to the war in Iran and the disruption of passages via the Strait of Hormuz. There were increased exports to both Europe and Asia, at an estimated rate of 3.75 million metric tons in Q1’26.
Natural Gas, a fossil energy source formed deep beneath the earth's surface, is a mixture of several compounds and/or gases. It is primarily composed of hydrocarbon elements while its largest component is methane. It is a non-renewable hydrocarbon, which is utilised as an energy source for various purposes including cooking, heating, and electricity generation.
It serves as an important chemical feedstock in the production of commercially important organic chemicals and is further used as a fuel for vehicles. Crude form of Natural Gas is often referred to as wet natural gas because, along with methane, it contains NGLs (natural gas liquids), and water vapour.
Fertilizer, Antifreeze, Plastics and glass, Fabrics, Chemical feedstock, Paint, Power generation, Transportation, Animal and fish feed
Gazprom PAO, Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, PetroChina Company Limited, BP Plc
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In order to produce consumer-grade, or pipeline quality natural gas, the crude natural gas (wet gas) obtained from oil wells is sent to a processing plant to remove water vapour and nonhydrocarbon compounds like sulphur, helium, carbon dioxide, etc. After the removal of these impurities, NGLs are also separated from the wet gas, and the processed Natural Gas is sent through pipelines for distribution after the addition of odorants.
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