Cryptocurrency Market Review

20:44; 04 December 2025 year

The price of Russian natural gas is determined based on current global gas and oil prices. Two key international centers where natural gas prices are formed can be highlighted: Henry Hub in the United States and the Dutch hub TTF Gas. 1. U.S. Market (Henry Hub): - Current price: significant rise to 5 USD/million BTU (British thermal units) on Thursday. 2. European Market (TTF): - Current price: adjustment to 333 USD/1000 m³. 1. Gas in the U.S. (Natural Gas - NG): The benchmark price for gas in the U.S. is the cost at the Henry Hub storage facility in Louisiana. The unit of measurement is British thermal units (BTU). To convert this price to the standard equivalent of 1000 cubic meters, an approximate factor of 35.8 is used. It is important to note that this price represents the raw cost of the raw material and does not include the costs of liquefaction, transportation, and subsequent regasification. Thus, the final consumer in the U.S. pays a significantly higher price for the gas. On the Moscow Exchange, gas contracts are denoted by the code NG-11.25 and similar combinations of digits and letters. 2. European Gas: Gas trading in the EU takes place on gas hubs, with the Dutch TTF being the most important. This Dutch exchange is the leader in the European gas market due to its trading volume, which exceeds the internal needs of the Netherlands by more than 14 times. Approximately 20 trillion cubic meters of gas are traded annually here. It is important to consider the high seasonality of natural gas demand, which is significantly increased during the winter heating period. The review was presented by Alexey Grishchenko, Ph.D., Professor of the Department of Operational and Industry Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.

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