Over the past month, the BETS Trading Platform held 22 trading sessions for the purchase and sale of natural gas on the medium- and long-term markets, as well as four trading sessions each day on the short-term market.
A total of 118 initial positions were formed at BETS for trading resources for June, July, and August 2026 in the gas transmission system (GTS) and underground gas storage facilities (UGS). In total, 38.9 million cubic meters of natural gas were sold on the medium- and long-term market, more than double the figure for the previous period. On the short-term market, 8.42 million cubic meters of natural gas were sold.
On the medium- and long-term market in June, quoted prices in the section of the same name ranged from 20,595.89 to 21,685.83 UAH excluding VAT. On the short-term market, exchange rates fluctuated daily within the range of 20,959.12–21,626.64 UAH excluding VAT. Prices remained stable throughout the month.
“In June, the natural gas market on the UEB demonstrated sustained activity following May’s recovery and a transition to a more mature phase. Despite the influence of external factors, the Ukrainian exchange segment remained operational and liquid: participants actively established positions for both buying and selling, and demand for June’s supply confirmed the importance of transparent price indicators for supply planning. “For the UEB, this is a signal that exchange mechanisms continue to be a key tool for establishing an objective market price, managing commercial risks, and maintaining the stability of the wholesale natural gas market,” noted UEB CEO O. Kovalenko.
The period of low natural gas prices at the Henry Hub in the U.S. is coming to an end, analysts at Wood Mackenzie warn.
Experts forecast prices will rise to $5 per MMBtu (1 million British thermal units) by 2035, whereas for most of the past decade they have hovered between $2 and $4 per MMBtu.
“Sustained growth in electricity demand from the artificial intelligence sector and a slowdown in U.S. natural gas supply growth point to a structural shift in the factors driving Henry Hub prices,” according to a Wood Mackenzie report.
Stable gas prices have facilitated the development of LNG export infrastructure in the U.S., as well as natural gas-fired power generation, which currently meets the growing energy needs of data centers for AI development. Experts note that the continuation of these conditions is no longer guaranteed, as demand for gas continues to grow steadily, while increasing supply is becoming increasingly difficult and expensive.
“The conditions that allowed Henry Hub prices to remain at $2–4 per MMBtu for most of the past decade are no longer fully in effect,” notes Kristi Kramer, head of LNG market strategy and development at Wood Mackenzie. “Rapid field development, virtually free associated gas, and annual productivity gains kept prices consistently low. However, the impact of these favorable factors has largely run its course.”
“The power sector alone will require an additional 17 billion cubic feet of gas per day by the mid-2030s, even though the most productive parts of gas fields are already being developed. For supply to increase further, prices will have to rise,” says Kramer.
In 2025, the number of investment decisions to build new LNG export capacity in the U.S. reached a record high, and final decisions on a number of other projects are expected to be made in 2026. LNG production capacity is expected to more than double compared to current levels. In the early 2030s, the U.S. will account for more than a third of global LNG supply, and demand will continue to grow into the 2040s, experts predict.
At the same time, as the highest-quality gas fields—including those in the Permian Basin—are developed, production will become less productive and more geologically challenging, Wood Mackenzie warns.
Over the past month, the BETS trading platform held 120 trading sessions for the purchase and sale of natural gas on the medium- and long-term markets, as well as four trading sessions each day on the short-term market.
BETS formed 233 initial positions for trading resources in February and March 2026 in the gas transmission system (GTS) and underground gas storage (UGS) facilities. A total of 32.79 million cubic meters of natural gas was sold on the medium- and long-term market. On the short-term market, 9.27 million cubic meters of natural gas were sold.
On the medium- and long-term market in February, quoted prices in the section of the same name ranged from 18,333.35 to 21,200 UAH excluding VAT. A downward price trend was observed until the end of the month.
Natural gas was also sold using TTF differentials: 9 million cubic meters at a premium ranging from 0.62 to 3.92 euros.
In the short-term market, exchange rates fluctuated daily within the range of 19,313.95–21,016.81 UAH excluding VAT.
“In February, the natural gas market remained active despite existing price fluctuations. Although trading volumes were lower compared to the previous month, market participants continue to actively use the trading infrastructure, and there remains high interest in short-term market transactions. UEB continues to ensure the stable operation of trading systems to create the most efficient conditions for all participants,” noted UEB CEO O. Kovalenko.
Last month, BETS PE held 118 trading sessions for the purchase and sale of natural gas in the medium and long-term market, as well as 4 trading sessions each day in the short-term market.
BETS formed 301 starting positions in January, February, March 2026, in the GTS and UGS. In total, about 66 million cubic meters of natural gas were sold in the medium and long-term market. In the short-term market, 7.05 million cubic meters of natural gas were sold.
In January, the quoted prices in the mid- and long-term market ranged from UAH 19,312 to UAH 22,640 excluding VAT. There was an upward trend in prices during the second half of the month. The initiators of the auctions formed starting positions mainly for sale.
Last month, deals were concluded in the “Transborder” section on the terms of delivery at a point on the border. The total volume under these agreements amounted to 100.44 thousand mbtu at prices in the range of 34.58 – 35.6 euros.
Natural gas was also sold using differentials from the TTF: 17 million cubic meters at a premium of EUR 7.69-9.62.
On the short-term market, exchange rates fluctuated daily in the range of UAH 19,300-22,296.99 excluding VAT with an upward trend. In addition to the intraday market, deals were concluded on the UEEX day-ahead market with a total volume of 1,351 thousand cubic meters.
“January confirmed the continued high activity on the natural gas market, despite price volatility. Although trading volumes decreased compared to the previous month, participants remain involved in transactions in the medium and short-term segments of the domestic market, unlike in December, when there was more activity in the trade of imported natural gas. The Ukrainian Energy Exchange continues to ensure the stable operation of the trading infrastructure, creating effective conditions for interaction between trading participants,” said UEEX CEO O. Kovalenko.
Turkmenistan is ready to export natural gas to European countries, said Gurbanguly Berdimuhamedov, former head of the country and current chairman of the People’s Council. He emphasized the strategic importance of cooperation with Europe in the field of energy resources, noting that the European market is one of the largest in the world.
Berdimuhamedov drew attention to the fact that Turkmenistan ranks fourth in the world ranking in terms of natural gas reserves. “I will give another concrete example: the Galkynyş field ranks first in the world in terms of gas reserves. Its reserves amount to 27.4 trillion cubic meters. These figures show that our country’s export potential allows us to meet the energy needs not only of our own, but also of our partners in the region and beyond,” the politician said.
U.S. President Donald Trump said in an interview aboard Air Force One that he wants to strike a $500 million deal with Ukrainian President Volodymyr Zelensky on access to rare earth minerals and natural gas in Ukraine in exchange for security guarantees in any potential peace settlement, The New York Post reported Saturday.
According to the publication, also present on the plane was national security adviser Mike Waltz, addressing whom Trump said: “Let’s keep these meetings going. They want to meet. People are being killed every day. Young beautiful soldiers are being killed. Young men like my sons. On both sides. All over the battlefield.”
It is noted that Vice President Vance will meet with Ukrainian President Volodymyr Zelensky at the Munich Security Conference next week.
Trump said he spoke on the phone with Vladimir Putin in an attempt to negotiate an end to the war in Ukraine.
“I’d rather not talk,” Trump said when asked how many times the two leaders had spoken. But he believes Putin “cares” about killing on the battlefield.
