US Natural Gas Prices Continue to Rise

17:24; 01 October 2026 year

### Two Key International Hubs for Natural Gas Pricing: Henry Hub and TTF There are two main international centers where natural gas prices are formed: Henry Hub in the United States and the Dutch TTF Gas hub. 1. **American Market (Henry Hub)**: - **Current Price**: A drop to $3 per million BTU (British Thermal Units) on Thursday. 2. **European Market (TTF)**: - **Current Price**: Adjustment to $840 per 1,000 cubic meters. ### Henry Hub: American Natural Gas Benchmark Henry Hub is essentially a gas distribution node located in Louisiana, USA. This benchmark plays a leading role in setting natural gas prices in the U.S., which are traded on the New York Mercantile Exchange. The unit of measurement is British Thermal Units (BTU). To convert the price to an equivalent of 1,000 cubic meters, a conversion factor of 35.8 is used. It is important to note that this price reflects only the raw material cost, excluding liquefaction, transportation, and regasification costs. Therefore, end consumers in the U.S. pay significantly more for natural gas. ### TTF: European Natural Gas Benchmark TTF stands for Title Transfer Facility, which is the main benchmark for gas prices in Europe. It is a virtual trading platform for gas. ### Global Gas Pricing Mechanisms Global gas pricing mechanisms are diverse and include: - **Exchange Trading**: Competitive pricing, as seen on TTF in Europe. - **Oil Indexation**: Linking gas prices to oil prices. - **Regulated Prices**: Government-set prices. - **Direct Contracts**: Prices determined by supply and demand, influencing global benchmarks, including gas prices and the cost of alternative fuels (gas, oil, coal). Russian gas prices, especially for export markets, have traditionally been heavily dependent on oil price indexing, but are now more oriented towards spot markets and competitive mechanisms, although the link to energy prices remains. This overview was presented by Alexei Grishchenko, Ph.D., Professor of the Department of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.

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