Natural gas market in 2025 Q2: Price slump on the TGE, slight increase in OTC prices, reduced volume of transactions at the OTC point with an increase in sales on the TGE
The average price of natural gas in contracts concluded on the Polish Power Exchange (TGE) from the beginning of March to the end of June this year fell by 19.5 percent year to year, while the average price of natural gas in sales transactions at the OTC virtual point increased by 3.7 percent in the same period.
The wholesale natural gas sales volume for transactions at the OTC virtual point in 2025 Q2 exceeded 28.3 TWh, meaning an increase by 4.5 TWh compared to 2024 Q2. Meanwhile, the volume of NG delivered under OTCs was to 5.4 TWh, a slump by 1.9 TWh year to year.
Fig. 1. Natural gas volumes delivered in Q2s from 2020 to 2025 under OTC and TGE transactions
In 2025 Q2, the average price of natural gas in contracts concluded on the TGE was 187.49 PLN/MWh compared to 233.05 PLN/MWh in 2024 Q2. This represents a decrease of 19.5 percent. Meanwhile, for sales transactions carried out at the OTC virtual point during the same period, the average price stood at 179 PLN/MWh, an uptick from 172.59 PLN/MWh year to year. This represents an increase of 3.7 percent.
Fig. 2. Average delivered NG pricing in Q2s from 2020 to 2025 under OTC and TGE transactions
In 2025 Q2, the volume of high-methane gas flowing through the Polish transmission system increased by nearly 11 percent year to year. The LNG terminal gas import grew by 18.8 percent, while the EU gas import saw an increase by 11.3 percent.
Detailed quarterly data on natural gas trading is available on the official URE website, Wholesale Natural Gas Market: Monitoring.