Gas Market Overview

19:31; 21 May 2026 year

### Two Key International Hubs Shape Natural Gas Prices: Henry Hub in the US and TTF Gas in Europe 1. **American Market (Henry Hub)**: - **Current Price**: A drop to $3.1 per million BTU (British Thermal Units) on Thursday. 2. **European Market (TTF)**: - **Current Price**: Adjustment to $605 per 1,000 cubic meters. --- **Henry Hub** is the benchmark for natural gas prices in the United States. Located in Louisiana, it is a physical gas distribution hub. The benchmark is traded on the New York Mercantile Exchange (NYMEX), and prices are quoted in BTUs. To convert the price to 1,000 cubic meters, a factor of 35.8 is used. It is important to note that this price reflects only the raw cost of gas, excluding liquefaction, transportation, and regasification costs. Therefore, the final price paid by consumers in the US is significantly higher. **TTF** (Title Transfer Facility) is the primary benchmark for natural gas prices in Europe. It is a virtual trading platform for gas. The TTF benchmark reflects competitive pricing dynamics in the European market. --- **Pricing Mechanisms for Natural Gas Globally**: - **Exchange Trading**: Competitive pricing mechanisms, as seen on the TTF in Europe. - **Oil Indexation**: Linking gas prices to oil prices. - **Regulated Prices**: Government-set prices. - **Direct Contracts**: Prices determined by supply and demand, affecting global benchmarks including gas, oil, and coal prices. Russian gas prices, particularly for export markets, have traditionally been linked to oil prices, but are now increasingly influenced by spot markets and competitive mechanisms, though the connection to energy prices remains. --- **Analysis by Alexey Grishchenko**, Ph.D., Professor 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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