Prices jumped across the board in the North American natural gas market during the first nine months of 2021, according to the latest trade scorecard compiled by the United States Department of Energy (DOE).

U.S. exports to Mexico led the increases by scoring a 181% leap to a 2021 nine-month average of $5.48/MMBtu from $1.95 a year earlier, the DOE’s Gas Regulation division said.

Most natural gas contracts in Mexico are written based on U.S. prices with cost added for transportation into Mexico. However, momentum is growing for an independent Mexico-driven natural gas price index, according to market participants.

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