Global Gas Market Overview: Key Developments and Trends

19:47; 20 August 2026 year

### Key International Natural Gas Pricing Hubs: Henry Hub and TTF Two major international centers where natural gas prices are formed are the Henry Hub in the United States and the Dutch TTF Gas hub. 1. **American Market (Henry Hub)**: - **Current Price**: Dropped to $2.7 per million BTU (British Thermal Units) on Thursday. 2. **European Market (TTF)**: - **Current Price**: Adjusted to $760 per 1,000 cubic meters. **Henry Hub** is the primary benchmark for natural gas prices in the United States. It is a physical hub located in Louisiana where gas is traded on the New York Mercantile Exchange. The price is measured in BTUs, and to convert it to cubic meters, a factor of 35.8 is used. It’s important to note that this price reflects only the raw cost of the gas, excluding liquefaction, transportation, and regasification costs. Thus, the final price paid by consumers in the U.S. is significantly higher. **TTF** stands for Title Transfer Facility, which is a virtual trading platform for gas in Europe. It serves as the main benchmark for gas prices across the continent. It’s worth noting that gas pricing mechanisms worldwide are diverse. They include competitive market-based 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 dynamics, affecting global benchmarks such as gas, oil, and coal prices. Russian gas prices, particularly for export markets, have traditionally been heavily linked to oil prices, but now they are increasingly influenced by spot markets and competitive mechanisms, although the correlation with energy prices remains. This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operations and Industry Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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