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Russian natural gas pricing depends on global gas and oil prices. The main global price benchmarks for gas are listed below (Henry Hub - USA, TTF hub in the Netherlands).
1. American market (Henry Hub):
- Current price: dropped to 4.4 USD/million BTU (British Thermal Units) on Friday.
2. European market (TTF):
- Current price: corrected to 380 USD/1000 m³.
Note that the American market (Henry Hub) is:
- The basic price indicator for the USA,
- Conversion to cubic meters can be done with a coefficient of 35.8 (≈104 USD/1000 m³).
The final price for consumers in the USA is significantly higher due to additional costs (liquefaction, transportation).
The European market (TTF) is:
- The largest European hub in the Netherlands,
- Annual turnover: 20 trillion m³ (14 times more than the internal needs of the EU).
On the Moscow Exchange, gas contracts with ticker symbols NG-11.25 are used as price benchmarks.
It is worth noting the pronounced seasonality of demand (peak consumption in winter), reduced gas consumption in the EU - late spring and summer. At the same time, Russian gas prices correlate with the aforementioned global indicators.
The review was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty "Higher School of Management" of the Financial University under the Government of the Russian Federation.
