Gas Hub Prices See Mixed Movements Amid Market Volatility

20:23; 11 June 2026 year

### Two Key International Hubs Shape Natural Gas Prices: Henry Hub in the US and TTF in Europe **1. American Market (Henry Hub):** - **Current Price:** Dropped to $3.1 per million BTU (British Thermal Units) on Thursday. **2. European Market (TTF):** - **Current Price:** Adjusted to $593 per 1,000 cubic meters. **Henry Hub:** This is the benchmark for natural gas prices in the United States, located at a gas distribution hub in Louisiana. It is traded on the New York Mercantile Exchange (NYMEX). The price is measured in BTUs, and to convert it to a per cubic meter basis, a factor of 35.8 is used. It’s important to note that this price reflects only the raw material cost, excluding liquefaction, transportation, and regasification costs. Therefore, end consumers in the US pay significantly more. **TTF:** This stands for Title Transfer Facility, which is the main gas price benchmark in Europe. It represents a virtual trading platform for gas. **Pricing Mechanisms:** Natural gas prices around the world are determined through various mechanisms: - **Exchange Trading:** Competitive pricing, as seen on TTF in Europe. - **Oil Indexation:** Linking gas prices to oil prices. - **Regulated Prices:** Government-set prices. - **Direct Contracts:** Prices are set based on supply and demand balance, affecting global benchmarks including gas prices and the cost of alternative fuels (gas, oil, coal). **Russian Gas Prices:** Historically, Russian gas prices, especially for export markets, were heavily tied to oil prices. However, they are now more aligned with spot markets and competitive mechanisms, although the link to energy prices remains. **Overview by Alexey Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of Higher School of Management, Financial University under the Government of the Russian Federation.**

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