A review on natural gas previous, current and forecasting prices and demand

Abstract

The significance of natural gas appears as a competitive substitute for crude oil. Therefore, for many years, fuel switching between natural gas and crude oil made natural gas prices closely aligned with crude oil. On the other hand, the price of natural gas for end-users varies greatly across Europe, Asia, and Africa. There was an upward trend in energy commodity prices since 2000, but with the surge in supply coming from unconventional oil and gas resources in North America, the trend in natural gas prices has become downward in recent years due to the many reasons. This paper examines and investigates the global market of natural gas including previous, current, and future prices and demand. Additionally, it shows the effect of political and economic issues on natural gas prices and demand during the period from 2014 to 2020. The paper shows and interprets the expectations of the natural gas market until 2040.