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Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.
Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 per gallon.
Price per million BTU of oil and natural gas in the US, 1998-2015 Natural gas prices spiked to $23.86 on February 17, 2021 because of the Texas power crisis. [14] In February 2003 there was a similar spike in natural gas prices because of shortages. [15]
The capacity of the pipeline is 35 billion cubic metres (1.2 trillion cubic feet) per year of natural gas. The compressor station in Radeland, Brandeburg, is built by Siemens. [3] The pipeline cost around €1 billion. The construction was completed in 2011 and in August 2011 Nord Stream was connected with the OPAL pipeline. [4]
On Thursday, OPAL Fuels Inc. (NASDAQ:OPAL) announced the start of commercial operations at its renewable natural gas (RNG) facility at the Polk County municipal landfill in Jones Corner, Florida.
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.