Last reviewed on October 31, 2026.
European gas averaged $25.42/MMBtu in September 2026, about €78/MWh at current exchange rates, against $2.95 at Henry Hub. This page tracks the monthly European price since TTF became the World Bank's reference in April 2015. It is a historical reference, not a live quote; the homepage has a live TTF proxy chart.
Europe (TTF)Henry Hub
Key moments
- 2020: pandemic demand loss and full storage pushed European gas to its lowest levels in the series, close to Henry Hub.
- 2021–2022: low storage and then the cut in Russian pipeline deliveries drove the monthly average to a record $70.04 in Aug 2022. Front-month TTF peaked at around €340/MWh on a daily basis.
- 2023–2025: demand cuts, record LNG imports and refilled storage brought prices back to about $10–13.
- 2026: the Strait of Hormuz closure from March removed Qatari and UAE LNG, about a fifth of global LNG trade. EU storage had ended the winter at about 28% full, and prices rose from about $15 in spring to over $25 in September.
Annual averages ($/MMBtu)
| Year | Europe (TTF) | Henry Hub | Gap |
|---|---|---|---|
| 2026 (Jan–Sep) | $16.92 | $3.52 | $13.39 |
| 2025 | $11.96 | $3.52 | $8.44 |
| 2024 | $10.96 | $2.19 | $8.77 |
| 2023 | $13.11 | $2.54 | $10.58 |
| 2022 | $40.34 | $6.37 | $33.97 |
| 2021 | $16.12 | $3.85 | $12.27 |
| 2020 | $3.24 | $2.01 | $1.23 |
| 2019 | $4.80 | $2.57 | $2.24 |
| 2018 | $7.68 | $3.16 | $4.52 |
| 2017 | $5.72 | $2.96 | $2.76 |
| 2016 | $4.56 | $2.49 | $2.07 |
Monthly European gas price ($/MMBtu)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 11.76 | 11.24 | 17.91 | 15.41 | 16.17 | 15.17 | 18.06 | 21.11 | 25.42 | – | – | – |
| 2025 | 14.66 | 15.34 | 13.24 | 11.59 | 11.66 | 12.37 | 11.62 | 11.15 | 11.12 | 10.89 | 10.42 | 9.48 |
| 2024 | 9.56 | 8.15 | 8.55 | 9.09 | 10.12 | 10.87 | 10.35 | 12.37 | 11.78 | 12.92 | 13.93 | 13.86 |
| 2023 | 20.18 | 16.54 | 13.81 | 13.52 | 10.11 | 10.35 | 9.55 | 11.19 | 11.55 | 14.57 | 14.49 | 11.51 |
| 2022 | 28.26 | 27.23 | 42.39 | 32.20 | 29.17 | 33.56 | 51.33 | 70.04 | 59.10 | 39.02 | 35.72 | 36.04 |
| 2021 | 7.27 | 6.16 | 6.13 | 7.15 | 8.91 | 10.30 | 12.51 | 15.43 | 22.84 | 31.05 | 27.62 | 38.03 |
| 2020 | 3.63 | 2.91 | 2.72 | 2.12 | 1.58 | 1.75 | 1.80 | 2.86 | 3.95 | 4.89 | 4.84 | 5.86 |
| 2019 | 7.26 | 6.01 | 5.18 | 4.92 | 4.34 | 3.59 | 3.62 | 3.68 | 4.21 | 5.06 | 5.15 | 4.62 |
| 2018 | 6.66 | 6.72 | 6.70 | 6.93 | 7.49 | 7.45 | 7.60 | 8.08 | 9.52 | 8.79 | 8.27 | 7.98 |
| 2017 | 6.14 | 6.05 | 5.00 | 5.01 | 5.06 | 4.89 | 5.00 | 5.48 | 5.96 | 6.18 | 6.69 | 7.14 |
| 2016 | 4.40 | 3.97 | 3.91 | 3.97 | 4.33 | 4.76 | 4.67 | 4.05 | 4.25 | 5.34 | 5.69 | 5.42 |
| 2015 | – | – | – | 6.77 | 6.68 | 6.67 | 6.69 | 6.35 | 6.28 | 6.03 | 5.50 | 5.09 |
To see these prices in euros, use the €/MWh to $/MMBtu tables. Monthly dollar values depend on the exchange rate as well as the euro price.
Data: World Bank Commodity Price Data. The series follows the Netherlands TTF from April 2015. Monthly averages hide daily peaks. Context from the EIA and IEA. This page is updated when the World Bank publishes new data, usually early each month.