Global Gas Market Overview: Key Developments and Trends

20:26; 14 August 2026 year

### Russian Natural Gas Prices Depend on Global Gas and Oil Prices The main global benchmarks for natural gas prices are as follows: 1. **Henry Hub (United States)** - Current price: Dropped to $2.7 per million BTU (British Thermal Units) on Friday. 2. **TTF (Netherlands)** - Current price: Slight increase to $730 per 1,000 cubic meters. ### 1. Natural Gas in the United States (NG) The benchmark price for natural gas in the U.S. is determined at the Henry Hub storage facility in Louisiana. ### 2. European Gas European gas trading primarily takes place on various European gas hubs, with the largest being the Dutch TTF Natural Gas Exchange. This Dutch hub leads the European gas market due to its trading volume, which exceeds the internal gas 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 dependent on oil-indexed contracts. However, they are now more closely aligned with spot markets and competitive mechanisms, although the link to energy prices remains. Global gas pricing mechanisms are diverse and include: - **Exchange trading (competitive pricing, such as on TTF in Europe)** - **Oil-indexed pricing (linking gas prices to oil prices)** - **Regulated prices and direct contracts (prices determined by supply and demand, affecting global benchmarks including gas prices and the cost of alternative fuels like gas, oil, and coal)** This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Higher School of Management at the Financial University under the Government of the Russian Federation.

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