The World’s Natural Gas Prices Over Time (2006–2026)
Compare natural gas prices across U.S., European, and Asian benchmarks and explore the Shale Crescent’s industrial cost advantage.
This story was prepared automatically by software.
Published
October 20, 2026 8:44 am
By
Design
Athul Alexander
Akhila Ayyalasomayajula
The following content is sponsored by Shale Crescent USA
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Where Are Natural Gas Prices the Lowest?
Key Takeaways
From 2006–2025, the Shale Crescent’s annual prices stayed below the European and Asian prices.
In January–September 2026, Shale Crescent USA (EGTS) averaged $2.85/MMBtu—about 22% below Henry Hub and about 83% below Europe’s TTF and Asia’s JKM.
The long-running price gap gives energy-intensive businesses a potential cost advantage to consider when choosing a location.
Energy costs can influence where companies build and expand. For energy-intensive businesses, lower natural gas prices can create an important operating advantage.
This graphic, in partnership with Shale Crescent USA, shows regional natural gas prices using data from the IMF series available through FRED for European gas and Asian LNG.
Twenty Years Below Overseas Benchmarks
From 2006–2025, the Shale Crescent’s annual prices stayed below European and Asian hubs. Moreover, the regional series undercut the U.S. benchmark Henry Hub in every full year from 2012 onward, using unrounded averages.
Here is a table that shows annual benchmark prices from 2000 through 2026 YTD in $/MMBtu.
YearU.S. Benchmark
(Henry Hub)Shale Crescent USA
(EGTS)Europe
(TTF)Asia
(JKM)
2000$3.89$4.12$3.45$5.24
2001$4.27$4.57$3.87$4.67
2002$3.22$3.41$2.67$4.43
2003$5.39$5.95$3.49$4.98
2004$6.14$6.49$3.76$5.89
2005$8.62$9.04$5.92$7.03
2006$7.23$7.55$8.21$8.05
2007$6.86$7.22$8.14$8.41
2008$9.03$9.53$13.14$11.59
2009$3.99$4.27$8.86$7.49
2010$4.39$4.59$8.22$9.38
2011$4.04$4.20$10.60$15.55
2012$2.79$2.79$11.98$18.15
2013$3.65$3.45$11.19$17.34
2014$4.41$3.28$10.46$17.00
2015$2.66$1.44$7.31$10.96
2016$2.46$1.37$4.35$7.44
2017$3.11$2.23$5.74$7.25
2018$3.09$2.57$7.92$9.80
2019$2.63$2.18$4.45$5.44
2020$2.08$1.48$3.18$4.37
2021$3.84$3.06$15.91$18.60
2022$6.64$5.59$37.52$33.30
2023$2.74$1.73$12.88$13.46
2024$2.27$1.63$10.89$11.71
2025$3.43$2.61$11.91$12.09
2026 YTD (Jan–Sep)$3.65$2.85$16.75$17.75
Annual values are averages of monthly prices.
For example, the region averaged $5.59 per million British thermal units (MMBtu) in 2022. By comparison, Europe’s series averaged $37.52, while Asia’s averaged $33.30.
Russia’s 2022 invasion of Ukraine and LNG shipping disruptions during the 2026 Iran war drove overseas gas prices higher. However, the Shale Crescent’s average prices remained far below European and Asian benchmarks, preserving its cost advantage.
Just four years later, from January through September 2026, Shale Crescent USA (EGTS) averaged $2.85/MMBtu. In contrast, the U.S. benchmark, Henry Hub, averaged $3.65/MMBtu.
Europe’s TTF averaged $16.75/MMBtu, while Asia’s JKM averaged $17.75/MMBtu. As a result, EGTS was about 22% below Henry Hub and about 83% below the overseas benchmarks.
A Location Advantage for Industry
For manufacturers, that gap makes energy costs an important part of site selection. Lower gas costs can support competitive production budgets and leave more room for investment.
A company’s gas consumption determines how strongly these price differences affect operating costs. That makes the comparison especially relevant for energy-intensive projects.
However, benchmark prices do not equal every company’s delivered energy bill. Businesses should assess transportation charges, utility access, and contract terms alongside the regional price advantage.
Ultimately, the Shale Crescent’s long-running price advantage strengthens its case for energy-intensive investment. It offers businesses a concrete cost factor to assess when choosing where to grow.
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Source: https://www.visualcapitalist.com/sp/sc02-the-worlds-natural-gas-prices-over-time-2006-2026/
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