The three worlds of natural gas prices
Buyers of natural gas pay a vastly lower price in Europe than they pay in Japan. In the United States, the natural gas price is vastly lower yet. This wild disparity in prices is a relatively new phenomenon. As recently as three years ago global natural gas prices seemed as tightly wound as a suspension bridge cable. What happened in 2008 to break apart the predictable pattern of natural gas pricing? What forces could bring the prices back together again? Or is today's disparity the new norm?