Global Gas Prices Under Pressure

21:06; 26 June 2026 year

### Russian Natural Gas Prices Depend on Global Gas and Oil Benchmarks Russian natural gas prices are influenced by global gas and oil prices. The key international gas price benchmarks are as follows: 1. **Henry Hub (USA)**: - Current price: dropped to $3.4 per million BTU (British Thermal Units) on Friday. 2. **TTF (Netherlands)**: - Current price: slight increase to $474 per 1,000 cubic meters. #### Natural Gas in the USA The benchmark price for natural gas in the US is determined at the Henry Hub storage facility in Louisiana. #### European Gas European gas trading predominantly takes place on European gas hubs, with the Dutch TTF Natural Gas hub being the largest. The TTF hub is the leader in the European gas market due to its trading volume, which exceeds the internal gas needs of the Netherlands by more than 14 times. Around 20 trillion cubic meters of gas are traded annually on this platform. Russian gas prices, particularly for export markets, have traditionally been heavily linked to oil prices. However, they are now more aligned with spot markets and competitive mechanisms, although the correlation with energy prices remains. Pricing mechanisms for gas worldwide are diverse, including: - Exchange trading (competitive pricing, as seen on TTF in Europe) - Oil-indexation (linking gas prices to oil prices) - Regulated prices - Direct contracts where prices are determined by the balance of supply and demand, influenced by global benchmarks such as gas, oil, and coal prices. This overview was presented 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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