New England paid some of the highest natural gas prices on record last year amid pipeline constraints and stronger competition for LNG.

Daily spot natural gas prices at Algonquin Citygate near Boston peaked last year at $34.900/MMBtu in December, according to NGI data, and were higher than benchmarks in both Asia and Europe at that time. Average prices at Algonquin Citygate last year were $8.880, or nearly double the $4.470 in the prior year, according to NGI data. The region is the only one in the United States that has to import liquefied natural gas for power generation and heating, particularly during cold snaps. 

“New England pays some of the highest energy prices in the country,” and competes for LNG in a tight global market, said Poten & Partners’ Jason Feer, global...