Just like Cushing as become the place where prices of West Texas Intermediate crude are determined, southern Louisiana is fast becoming the place where natural gas prices are determined around the world.
Louisiana is home to the Henry Hub, a standard bearer for domestic shale gas markets. But now the jump in U.S. exports to Europe and Asia has resulted in the area setting gas prices around the globe.
There was a more than 30 percent increase in natural gas futures for Henry Hub in the first half of 2017. It means foreign traders are looking more and more to the Louisiana benchmark area. And financial experts suggest as the U.S. becomes a major supplier of natural gas to the rest of the world, buyers will look more to Louisiana to determine prices.