European Gas Prices Surge Amid Global Market Tensions

19:10; 27 March 2026 year

### Russian Natural Gas Prices Depend on Global Gas and Oil Prices Russian natural gas prices are influenced by global gas and oil prices. The main international benchmarks for gas prices are as follows: 1. **Henry Hub (USA)** - Current price: Dropped to $3 per million BTU (British Thermal Units) on Friday. 2. **TTF (Netherlands)** - Current price: Rose to $662 per 1,000 cubic meters. ### Natural Gas in the USA The benchmark price for natural gas in the United States is determined at the Henry Hub storage facility in Louisiana. ### European Gas European gas trading primarily takes place at European gas hubs, with the Dutch TTF Natural Gas hub being the largest. The TTF hub leads the European gas market due to its trading volume, which exceeds the internal gas needs of the Netherlands by more than 14 times. Approximately 20 trillion cubic meters of gas are traded annually at this hub. Russian gas prices, especially for export markets, have traditionally been heavily influenced by oil-indexed pricing but are now more closely aligned with spot markets and competitive mechanisms, although a correlation with energy prices remains. Pricing mechanisms for gas worldwide are diverse: they include exchange trading (competitive pricing, such as at 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, which affects global benchmarks including gas prices and the cost of alternative fuels (gas, oil, coal). This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.

Investment

Events

Niches and markets

Technologies and trends

Development infrastructure