2026 Wholesale Gas Price Survey_02

The highest natural gas wholesale prices in 2025, as in the three previous years, were found in Europe and in the main LNG importing markets in Asia Pacific. The top three highest prices were in Europe, but levels had dropped below US$15 per MMBtu.  Some of the key LNG importing markets – Japan, South Korea, Chinese Taipei and Singapore – are mixed in with European countries, as prices converged. Prices in Spain and Türkiye were somewhat lower than other European countries, reflecting the higher share of OPE prices. Prices fell to much lower levels in the US, below some FSU and Middle East countries.