
According to the International Gas Union's (IGU) 2023 Global Wholesale Gas Price Survey report (full copy below), 2022 was THE most turbulent year in the history of gas markets, as the global energy crisis intensified and the global price levels reached record highs. Last year saw record price levels, with Europe’s wholesale prices reaching over $30 per MMBtu. The average world price for natural gas reached $9.44 per MMBtu in 2022 --- the highest ever --- compared to a record low of $3.23 per MMBtu in 2020. Record high prices last year were seen in all regions apart from North America and the Former Soviet Union.
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