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Price Assessment

Henry Hub Gas Price Assessment

  • What is Henry Hub?
  • How do we assess Henry Hub daily and monthly spot gas?

What is Henry Hub?

The Henry Hub is perhaps the best-known of all natural gas trading points in North America. Located near Erath, Louisiana, the pipeline interchange moves gas from across the US Gulf Coast through a header system operated by Sabine Pipe Line, a subsidiary of Chevron Corporation.

The interstate and intrastate pipelines that come together at the interconnect include: Gulf South Pipeline, Southern Natural Gas, Natural Gas Pipeline Co. of America, Texas Gas Transmission, Sabine Pipe Line, Columbia Gulf Transmission, Transcontinental Gas Pipe Line, Trunkline Gas, Jefferson Island Pipeline and Acadian Gas. With the operational flexibility that comes from two compressor stations, Sabine currently possesses the ability to transport 1.8 Bcf/d across the hub.

In addition to being a very liquid spot trading point, Henry Hub is also the standard delivery point for the NYMEX natural gas futures contract in the US. The contract began trading in April 1990 and is traded 18 months into the future and is used as a primary financial hedging tool in the marketplace.

How do we assess Henry Hub daily and monthly spot gas?

Traded gas packages, including at the Henry Hub, are for pipeline-quality dry gas. Prices are reported in US dollars per million Btu (MMBtu), and volumes stated as MMBtu/day.

The daily midpoint, or Gas Daily average, is the volume-weighted average of all the transactions reported to Platts that are used to calculate the index for Henry Hub. All transactions are done by 11:30 a.m. CT, a deadline established by the North American Energy Standards Board, to flow the next business day.

The Platts monthly bidweek index is a single benchmark price designed to represent a central or average value for dealmaking during the bidweek period. To derive the index, Platts editors use volume-weighted averages as the foundation. At pricing points with robust dealmaking and a generally normal distribution curve, the index is the simple volume-weighted average. This applies to the large majority of bidweek indexes.

Reports for the monthly price survey should be sent by 6:00 pm EPT on each of the first four days of bidweek and by 2:00 pm EPT on the final day of bidweek.


Methodology and Specifications

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See all natural gas methodologies

Products and Services

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See all natural gas products