Where Data Tells the Story
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Since Russia’s invasion of Ukraine, natural gas prices in Europe have remained significantly higher than in the United States. In September 2025, European natural gas averaged $11.1 per MMBtu, 274% above the U.S. price of $3.0 per MMBtu—nearly four times as high. Before the crisis, in 2019, Europe’s price stood at $4.8 per MMBtu, 87% higher than in the U.S.