About the situation on the global gas market

19:35; 30 May 2025 year

The pricing of Russian natural gas depends on global gas and oil prices. The main global price targets for gas are presented below (Henry Hub-USA, TTF hub in the Netherlands).

1. The American market (Henry Hub):

is the base price indicator for the USA,

- Current price: 3.5 USD/million BTU (British Thermal units),

lt;p>- Conversion to cubic meters: coefficient 35.8 (104 USD/1000 m³).

Note that the final price for consumers in the United States is significantly higher due to additional costs (liquefaction, transportation).

The benchmark prices on the Moscow Stock Exchange are gas contracts with tickers NG-11.25

2. European Market (TTF):

is the largest European hub in the Netherlands,

- Annual turnover: 20 trillion m3 (14 times higher than the internal needs of the EU),

- Current price: 412 USD/1000 m³.

We note the pronounced seasonality of demand (peak consumption in winter), a decrease in gas consumption in the EU in late spring and summer. At the same time, Russian gas prices correlate with the above-mentioned global indicators.

The review was presented by Alexey Grishchenko, Doctor of Economics, Professor of the Department of Operational and Industry Management at the Graduate School of Management of the Financial University under the Government of the Russian Federation.

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