US Natural Gas Prices Continue to Rise

18:51; 29 October 2026 year

### Two Key International Gas Pricing Hubs: Henry Hub and TTF Two major international hubs where natural gas prices are formed are the Henry Hub in the United States and the Dutch TTF (Title Transfer Facility) hub. 1. **American Market (Henry Hub):** - **Current Price:** Fell to $3 per million British Thermal Units (BTU) on Thursday. 2. **European Market (TTF):** - **Current Price:** Adjusted to $1,120 per 1,000 cubic meters. ### Henry Hub – American Gas Henry Hub is a gas distribution hub located in Louisiana, USA. It serves as the benchmark for natural gas prices in the U.S., 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 factor of 35.8 is used. It is important to note that this price reflects the raw material cost without accounting for liquefaction, transportation, and regasification costs. Therefore, consumers in the U.S. pay significantly more for natural gas. ### TTF – European Gas TTF is the primary benchmark for gas prices in Europe. It stands for Title Transfer Facility, which is a virtual trading platform for gas. ### Global Gas Pricing Mechanisms Global gas pricing mechanisms are diverse and include: - **Exchange trading:** Competitive pricing, such as 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). Historically, Russian gas prices, especially for export markets, were heavily dependent on oil-indexation. However, they are now more aligned with 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, Financial University under the Government of the Russian Federation.

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