largest natural gas producer worldwide, has significantly lower prices for the fossil fuel. The U.S. has had lower natural gas prices than Europe for much of the past four decades.
Natural gas prices increased across Europe, the United States, and Japan in 2021 due in large part to an energy supply shortage brought about by an increase in electricity demand. Apart from economic determinants, unexpectedly cold winters or warm summers may also drive price spikes. In 2022, natural gas prices are expected to increase further, largely as a result of tighter supplies following the Russia-Ukraine war. Europe is expected to see an annual average price of 34 nominal U.S. dollars per million British thermal units. The United States, as the Natural gas commodity prices in selected markets in 2020 and 2021, with a forecast until 2024 (in nominal U.S. dollars per million British thermal units)
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World Bank. (April 26, 2022). Natural gas commodity prices in selected markets in 2020 and 2021, with a forecast until 2024 (in nominal U.S. dollars per million British thermal units) [Graph]. In Statista. Retrieved May 21, 2022, from https://www.statista.com/statistics/444286/natural-gas-price-forecast-by-region/
World Bank. "Natural gas commodity prices in selected markets in 2020 and 2021, with a forecast until 2024 (in nominal U.S. dollars per million British thermal units)." Chart. April 26, 2022. Statista. Accessed May 21, 2022. https://www.statista.com/statistics/444286/natural-gas-price-forecast-by-region/
World Bank. (2022). Natural gas commodity prices in selected markets in 2020 and 2021, with a forecast until 2024 (in nominal U.S. dollars per million British thermal units). Statista. Statista Inc.. Accessed: May 21, 2022. https://www.statista.com/statistics/444286/natural-gas-price-forecast-by-region/
World Bank. "Natural Gas Commodity Prices in Selected Markets in 2020 and 2021, with a Forecast until 2024 (in Nominal U.S. Dollars per Million British Thermal Units)." Statista, Statista Inc., 26 Apr 2022, https://www.statista.com/statistics/444286/natural-gas-price-forecast-by-region/
World Bank, Natural gas commodity prices in selected markets in 2020 and 2021, with a forecast until 2024 (in nominal U.S. dollars per million British thermal units) Statista, https://www.statista.com/statistics/444286/natural-gas-price-forecast-by-region/ (last visited May 21, 2022)