Industry and Energy

Industry and Energy

Natural gas prices surged 24% in Europe and 78% in US last month

04 February 2026 10:56 (UTC +04:00)

In January this year, the average price of natural gas in Europe stood at $11.76 per million BTU (British thermal unit), which is 24.01% higher than the previous month’s level ($9.48), APA-Economics reports, citing the World Bank’s monthly commodity price report.

According to the report, the average price of natural gas in Europe was $14.41 per million BTU in the first quarter of this year, $11.87 in the second quarter, $11.29 in the third quarter, and $10.26 in the fourth quarter.

The Bank recalled that the average gas price in Europe in 2025 stood at $11.96 per million BTU, which is 9.1% higher than the 2023 figure ($10.96).

Note that since December 31, 2020, Azerbaijan has started to transport its gas to Europe via the Trans Adriatic Pipeline (TAP).

According to the information, the average price of natural gas in the United States in January this year amounted to $7.58 per million BTU, which is 78.4% higher than the previous month’s level ($4.25).

It is reported that the average price of natural gas in the United States was $4.15 per million BTU in the first quarter of this year, $3.18 in the second quarter, $3.03 in the third quarter, and $3.75 in the fourth quarter.

It is noted that the average gas price in the United States last year stood at $3.53 per million BTU, which is 61.2% higher than the previous year’s figure ($2.19).