High Gas Prices Persist in European Market

20:29; 15 September 2026 year

### Natural Gas Prices Reflect Global Market Dynamics The price of natural gas, including Russian natural gas, is determined based on current global gas and oil prices. 1. **US Market (Henry Hub):** - **Current Price:** Increase on Tuesday to $3 per million BTU (British Thermal Units). 2. **European Market (TTF):** - **Current Price:** Adjustment to $980 per 1,000 cubic meters. ### Natural Gas in the US The benchmark price for natural gas in the US is set at the Henry Hub storage facility in Louisiana. ### European Natural Gas European gas trading predominantly takes place at European gas hubs, with the Dutch TTF Natural Gas hub being the largest. The Dutch TTF is the leader in the European gas market due to its trading volume, which exceeds the internal needs of the Netherlands by more than 14 times. Approximately 20 trillion cubic meters of gas are traded annually on this platform. It is important to note that gas pricing mechanisms around the world are diverse, including: - **Exchange Trading:** Competitive pricing, as seen on the TTF in Europe. - **Oil Indexation:** Linking gas prices to oil prices. - **Regulated Prices and Direct Contracts:** Prices are determined by the balance of supply and demand, influenced by 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 dependent on 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 Alexei Grishchenko, Ph.D., Professor of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.

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