European gas hubs: still relevant?

Can the various European gas hubs continue to be relevant in the pricing of long term physical gas contracts? That’s the key question the author of this report sets out to explore. The European gas markets have experienced a very turbulent ride over the past three years which has resulted in a severe readjustment of the European traded gas markets. There have been a number of interventions suggesting that the traded gas markets and the Dutch Title Transfer Facility (TTF) hub in particular, are no longer representative of the price of natural gas in the grid.