Global Gas Prices Under Pressure

18:16; 01 September 2026 year

### Two Global Natural Gas Pricing Hubs: Henry Hub in the US and TTF in Europe There are two major global hubs that set the price for natural gas: Henry Hub in the United States and the Dutch TTF Gas hub in Europe. The price of natural gas, including Russian natural gas, is primarily determined by current global gas and oil prices. 1. **US Market (Henry Hub)**: - **Current Price**: On Tuesday, prices rose to $3 per million British Thermal Units (BTU). 2. **European Market (TTF)**: - **Current Price**: Adjusted to $840 per 1,000 cubic meters. ### 1. Natural Gas in the US (NG) The benchmark price for natural gas in the US is set at the Henry Hub storage facility in Louisiana. ### 2. European Gas European gas trading takes place primarily on European gas hubs, with the largest being the Dutch TTF Natural Gas Exchange. This Dutch exchange leads the European gas market due to its trading volume, which exceeds the internal needs of the Netherlands by more than 14 times. It handles the sale of around 20 trillion cubic meters of gas annually. ### Pricing Mechanisms Gas pricing mechanisms around the world are diverse, including: - **Exchange Trading**: Competitive pricing, as seen on TTF in Europe. - **Oil Indexation**: Linking gas prices to oil prices. - **Regulated Prices**: Prices set by governments. - **Direct Contracts**: Prices determined by supply and demand, influenced by global benchmarks such as gas, oil, and coal prices. Russian gas prices, particularly for export markets, have traditionally been heavily dependent on oil-indexed contracts but are now more aligned with spot markets and competitive mechanisms, although a link to energy prices remains. This analysis was provided 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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