Baku: Natural gas prices in both Europe and the United States saw an increase last month, marking a significant change in the energy market. In May, Europe reported an average natural gas price of $16.17 per 1 million BTU, reflecting a 4.93% rise from April's figure of $15.41.

According to Azeri-Press News Agency, the World Bank's monthly commodity markets report highlighted these changes. It further noted that the average price of natural gas in Europe during the first quarter was $13.63, a 5.41% decrease compared to the same period last year, which was $14.41.

The report also mentioned historical data, stating that in 2025, the average price of gas in Europe was $11.96, representing a 9.1% increase from the 2023 figure of $10.96. Notably, Azerbaijani gas has been transported to Europe via the Trans Adriatic Pipeline since December 31, 2020.

In the United States, the average price of natural gas in May was $2.93 per 1 million BTU, a 5.8% increase from April's price of $2.77. The first quarter of this year saw an average price of $4.75, which is 14.5% higher than the corresponding period last year, where the price stood at $4.15.

The report also highlighted that the average gas price in the United States last year was $3.53, marking a 61.2% rise from the previous year's figure of $2.19.