European Gas Prices Remain at Record Highs

18:46; 30 October 2026 year

### Russian Natural Gas Prices Depend on Global Gas and Oil Prices Russian natural gas prices are influenced by global gas and oil prices. The main international gas price benchmarks are as follows: 1. **Henry Hub (USA)**: - Current price: dropped to $2.9 per million BTU (British Thermal Units) on Friday. 2. **TTF (Netherlands)**: - Current price: slightly increased to $1,150 per 1,000 cubic meters. ### 1. Natural Gas in the USA The benchmark price for natural gas in the United States is the Henry Hub price, located in Louisiana. This hub serves as a reference point for the pricing of natural gas futures contracts in the U.S. ### 2. European Gas European gas trading primarily takes place on European gas hubs, with the largest being the Dutch TTF Natural Gas hub. The TTF hub is the leading player in the European gas market due to its trading volume, which exceeds the internal needs of the Netherlands by more than 14 times. It facilitates the sale of around 20 trillion cubic meters of gas annually. Russian gas prices, particularly for export markets, have traditionally been heavily influenced by oil-indexed contracts. However, they are now more aligned with spot markets and competitive mechanisms, although the correlation with energy prices remains. Global gas pricing mechanisms are diverse and include: - **Exchange trading**: Competitive pricing mechanisms, such as those on the TTF in Europe. - **Oil-indexed pricing**: Prices linked to oil prices. - **Regulated prices**: Prices set by government regulation. - **Direct contracts**: Prices determined by the balance of supply and demand, influenced by global benchmarks including gas, oil, and coal prices. This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operations and Industry Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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