The Title Transfer Facility (TTF) is a virtual trading point for natural gas in the Netherlands, serving as the primary benchmark for European gas prices. Established by Gasunie in 2003, the TTF enables gas trading within the Dutch gas network and has grown to become the most liquid gas market in Europe.
At the TTF, natural gas is traded in euros per megawatt-hour (€/MWh). The TTF price is widely used as a benchmark for gas pricing across Europe, influencing contracts and transactions in various countries.
The TTF's role as a benchmark is crucial for the European energy market, as it reflects the balance of supply and demand, geopolitical events, and other factors influencing gas prices. Its influence extends beyond the Netherlands, impacting gas pricing and trading strategies across Europe.