Global Gas Prices Under Pressure

20:30; 19 June 2026 year

### Russian Natural Gas Prices Tied to Global Gas and Oil Prices Russian natural gas prices are heavily influenced by global gas and oil prices. The key international benchmarks for gas prices are as follows: 1. **Henry Hub (USA)** - Current price: dropped to $3.2 per million BTU (British Thermal Units) on Friday. 2. **TTF (Netherlands)** - Current price: slightly increased to $495 per 1,000 cubic meters. #### 1. Natural Gas in the USA The benchmark price for natural gas in the United States is set at the Henry Hub storage facility in Louisiana. #### 2. European Gas European gas trading primarily takes place on various European gas hubs, with the Dutch TTF Natural Gas hub being the largest. The TTF hub dominates the European gas market, with trading volumes exceeding the internal needs of the Netherlands by more than 14 times. Approximately 20 trillion cubic meters of gas are traded annually through this hub. Russian gas prices, particularly for export markets, have traditionally been heavily linked to oil prices, but now they are more influenced by spot markets and competitive mechanisms. However, the connection to energy prices remains significant. Global gas pricing mechanisms are diverse, including: - **Exchange trading** (competitive pricing, as seen on TTF in Europe) - **Oil-indexed pricing** (linking gas prices to oil prices) - **Regulated prices** - **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 prepared by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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