Page 36 - Policy Economic Report - June 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 23: Global natural gas price trends ($/mmbtu)

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May-20
Jul-20
Sep-20

Nov-20
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May-21
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May-24

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

Source- EIA, World Bank

Table 8: Gas price, May 2024 Price ($/MMBTU) MoM YoY
Natural Gas (%) change (%) change

India, Domestic gas price (June’24) 8.44 -5.17 11.35

India, Gas price ceiling – difficult areas 9.87 -0.90% -18.56%
(Apr-Sep’24)
13% -10%
GIXI (Gas index of India) price* 10.2 32.5% -1.4%
11.3% 0.1%
Henry Hub 2.12 -5.2% -16.2%

Natural Gas, Europe 10.12

Liquefied Natural Gas, Japan 11.26

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

Table 9: 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

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