European Natural Gas Prices Continue to Rise

18:55; 12 August 2026 year

### Natural Gas Pricing Dynamics: Global Benchmarks and Russian Gas Global natural gas prices, including those of Russian origin, are shaped by current international gas and oil prices. There are two primary international benchmarks for natural gas pricing: 1. **Henry Hub (USA)**: - Current price: Adjusted to $2.7 per million BTU (British Thermal Units) on Wednesday. 2. **TTF (Europe)**: - Current price: Increased to $726 per 1,000 cubic meters on Wednesday. #### Henry Hub: Henry Hub is an American gas benchmark. It refers to the Henry Hub gas distribution hub in Louisiana, which plays a leading role in setting gas prices in the US, traded on the New York Mercantile Exchange. The unit of measurement is British Thermal Units (BTU). To convert the price to 1,000 cubic meters, a factor of 35.8 is used. It’s important to note that this price reflects the raw cost of the gas, excluding liquefaction, transportation, and regasification costs. Therefore, consumers in the US pay significantly more for the gas. #### TTF: TTF is the main European gas benchmark. The name stands for Title Transfer Facility, a virtual gas trading platform. #### Global Pricing Mechanisms: 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** and **direct contracts**, where prices are determined by supply and demand balance, affecting global benchmarks such as gas prices and the cost of alternative fuels (gas, oil, coal). Russian gas prices, particularly for export markets, have traditionally been heavily influenced by oil-indexed pricing but are now more aligned with spot markets and competitive mechanisms, although the link to energy prices remains. This overview was presented by Alexey Grishchenko, Ph.D., Professor of the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.

Investment

Events

Niches and markets

Technologies and trends

Development infrastructure