Page 35 - Policy Economic Report - December 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 22: Global natural gas price trends ($/mmbtu)

80
70
60
50
40
30
20
10

0

Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Mar-23
May-23
Jul-23
Sep-23
Nov-23
Jan-24
Mar-24
May-24
Jul-24
Sep-24
Nov-24

Domestic gas price Henry Hub Natural Gas Spot Price Natural gas, Europe Spot LNG price, Japan

Source- EIA, World Bank

Table 7: Gas price, November 2024 Price ($/MMBTU) MoM YoY
Natural Gas (%) change (%) change

India, Domestic gas price (Dec’24) 7.29 -3.19 -13.93

India, Gas price ceiling – difficult areas 10.16 2.94% 2.01%
(Oct’24-Mar’25)
0.4% -2%
GIXI (Gas index of India) price* 13.07 -3.6% -21.8%
Henry Hub 2.12 7.8% -3.9%
-0.4% -1.8%
Natural Gas, Europe 13.93

Liquefied Natural Gas, Japan 12.49

Source- EIA, PPAC, World Bank, IGX
*Prices are weighted average prices (excluding ceiling price gas)

Table 8: Gas price, GCV Basis Domestic Gas calculated Gas price ceiling – difficult areas
Period price in US$/MMBTU price in US$/MMBTU
8.27
1-31 May 2023 7.58 12.12
1-30 June 2023 7.48 12.12
1-31 July 2023 7.85 12.12
1-31 August 2023 8.60 12.12
1-30 September 2023 12.12

December 2024 Page | 34