Business Natural Gas Prices by Country
In March 2024, Global Petrol Prices reported business natural gas prices across countries, highlighting significant global variations. Singapore had the highest price at USD 0.172 per kWh, while Argentina offered the lowest at USD 0.002 per kWh.
Which countries have the highest business natural gas prices in 2024?
Businesses in some countries face high natural gas costs due to limited domestic resources or high import taxes. The top 10 countries with the highest prices are:
1. Singapore – USD 0.172
2. Switzerland – USD 0.156
3. Hong Kong – USD 0.142
4. Slovakia – USD 0.131
5. Netherlands – USD 0.12
6. Barbados – USD 0.119
7. Austria – USD 0.116
8. United Kingdom – USD 0.112
9. Italy – USD 0.111
10. Denmark – USD 0.11
Which countries have the lowest business natural gas prices in 2024?
Countries with abundant natural gas resources or subsidies often enjoy low prices. The 10 cheapest countries are:
1. Argentina – USD 0.002
2. Algeria – USD 0.004
3. Russia – USD 0.007
4. Bahrain – USD 0.013
5. Azerbaijan – USD 0.014
6. Belarus – USD 0.021
6. Mexico – USD 0.021
7. Bangladesh – USD 0.023
8. Taiwan – USD 0.024
8. Canada – USD 0.024
How do business natural gas prices vary by region?
Regional analysis reveals distinct trends:
- **Asia:** Singapore leads globally at USD 0.172, while Azerbaijan offers one of the lowest prices at USD 0.014.
- **Europe:** Slovakia (USD 0.131) and Netherlands (USD 0.12) rank high, while Russia (USD 0.007) offers the lowest in the region.
- **Americas:** Barbados (USD 0.119) leads the region, with Argentina (USD 0.002) offering the lowest globally.
- **Africa:** Algeria provides the cheapest price at USD 0.004, benefiting from abundant natural gas reserves.
- **Oceania:** Australia maintains a moderate price at USD 0.083.
What factors affect business natural gas prices?
Prices are influenced by factors such as natural gas availability, transportation costs, taxation, subsidies, and infrastructure. Resource-rich countries like Russia and Algeria maintain low costs, while import-reliant nations like Singapore and Switzerland face higher prices.
Why is natural gas pricing significant for businesses?
Natural gas prices directly impact operational costs, especially for energy-intensive industries. High prices in countries like Singapore and Switzerland may encourage efficiency measures or alternative energy use, while low prices in Argentina and Algeria provide competitive advantages for local businesses.
