Global Gas Prices Continue Surge Amid Ongoing Military Actions

21:39; 24 March 2026 year

### Global Natural Gas Pricing Hubs: Henry Hub in the US and TTF in Europe There are two major global benchmarks for natural gas pricing: Henry Hub in the United States and the Dutch TTF (Title Transfer Facility) in the European Union. The price of natural gas, including Russian natural gas, is determined based on current global gas and oil prices. 1. **US Market (Henry Hub)**: - Current price: Adjusted to $2.9 per million BTU (British Thermal Units) on Tuesday. 2. **European Market (TTF)**: - Current price: Increased to $682 per 1,000 cubic meters. ### 1. Natural Gas in the US (NG) The benchmark price for natural gas in the US is set at Henry Hub, a storage facility located in Louisiana. ### 2. European Gas European gas trading primarily takes place at European gas hubs, with the largest being the Dutch TTF Natural Gas Exchange. This Dutch hub leads the European gas market due to its trading volume, which exceeds the internal needs of the Netherlands by more than 14 times. It facilitates the sale of approximately 20 trillion cubic meters of gas annually. It is important to note that gas pricing mechanisms around the world are diverse. They include: - **Exchange trading** (competitive pricing, as seen on TTF in Europe) - **Oil-indexed pricing** (linking gas prices to oil prices) - **Regulated prices** and **direct contracts**, where prices are determined by the balance of supply and demand, influenced by global benchmarks such as gas prices and the cost of alternative fuels (gas, oil, coal). Historically, Russian gas prices, especially for export markets, were heavily dependent on oil-indexed pricing. However, they are now more aligned with spot markets and competitive mechanisms, although the link to energy prices remains. This overview was presented by Alexey Grishchenko, Ph.D., Professor of the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.

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