Page 35 - Policy Economic Report - September 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 16: Global natural gas price trends ($/mmbtu)

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Aug-20
Oct-20
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Feb-21
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Jun-21
Aug-21
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Apr-22
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Feb-23
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Aug-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, August 2024 Price ($/MMBTU) MoM YoY
Natural Gas (%) change (%) change

India, Domestic gas price (Sep’24) 7.85 -7.76 -8.72

India, Gas price ceiling – difficult areas 9.87 -0.90% -18.56%
(Apr-Sep’24)
-4% 21%
GIXI (Gas index of India) price* 12.7 -4.3% -23.3%
Henry Hub 1.98 19.5% 10.5%
-0.2% -0.6%
Natural Gas, Europe 12.37

Liquefied Natural Gas, Japan 12.47

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 9.20 12.12
1-31 October 2023 9.12 9.96
1-30 November 2023 8.47 9.96
1-31 December 2023 9.96

September 2024 Page | 34