Gas Prices in EU Approach $1100 Per Thousand Cubic Meters

20:15; 27 October 2026 year

### Global Natural Gas Pricing Hubs: Henry Hub and TTF Gas There are two major global hubs for natural gas pricing: Henry Hub in the US and the Dutch TTF Gas hub in Europe. 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: Increased to $2.6 per million BTU (British Thermal Units) on Tuesday. 2. **European Market (TTF)**: - Current price: Adjusted to $1,105 per 1,000 cubic meters. ### 1. US Natural Gas (NG) The benchmark price for natural gas in the US is the Henry Hub storage facility located in Louisiana. ### 2. European Gas European gas trading primarily takes place 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. It is important to note that gas pricing mechanisms worldwide are diverse. They include: - **Exchange trading** (competitive pricing, as seen on TTF in Europe), - **Oil-indexation** (linking gas prices to oil prices), - **Regulated prices**, - **Direct contracts** where prices are determined by the balance of supply and demand, influencing 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 influenced by oil-indexation, but now increasingly reflect spot markets and competitive mechanisms, although the link to energy prices remains. This overview was presented by Alexey 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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