MMBtu
One million British thermal units (1.05506 GJ, 293.07 kWh); the standard pricing unit for natural gas and LNG in the United States and Asia.
MMBtu stands for one million BTU, using the Roman numeral M (thousand) twice. Writing "mmBtu" or "MMBTU" is common; "MBtu" can mean either a thousand or a million depending on the industry and should be avoided.
1 MWh = 3.412 MMBtu
1 MMBtu ≈ 1,000 cubic feet (1 Mcf) of pipeline natural gas, ≈ 27–28 m³
Price conversion: USD/MMBtu x 3.412 = USD/MWh
Example: 3.50 USD/MMBtu ≈ 11.9 USD/MWh (thermal)
EUR/MWh to USD/MMBtu: divide by 3.412, then apply the exchange rate
Benchmarks quoted in USD/MMBtu include Henry Hub (US pipeline gas, typically 2–4 USD/MMBtu in 2023–2025), the Japan Korea Marker (JKM) for Asian spot LNG, and oil-indexed LNG contracts often priced as a slope of 11–14% of Brent. European TTF is traded in EUR/MWh; 35 EUR/MWh is about 11 USD/MMBtu at 1.08 USD/EUR.
For electricity, fuel cost per MWh = gas price (USD/MMBtu) x heat rate (MMBtu/MWh). A combined-cycle plant with a heat rate of 6.5 MMBtu/MWh burning gas at 3 USD/MMBtu has a fuel cost of about 19.5 USD/MWh.
Related terms
All terms →- BTU (British thermal unit)
A traditional unit of heat, approximately the energy needed to raise one pound of water by one degree Fahrenheit; 1 BTU (IT) = 1,055.06 J.
- Therm
A unit of heat equal to 100,000 BTU (105.5 MJ, 29.307 kWh), used for billing natural gas to homes and businesses in the US and formerly the UK.
- Heat rate
The fuel energy a thermal power plant consumes per kWh of electricity generated; the inverse of efficiency, usually in BTU/kWh or kJ/kWh.
- LNG (Liquefied Natural Gas)
Natural gas cooled to about minus 162 degrees C, shrinking its volume around 600-fold so it can be shipped by tanker between markets without pipelines.
- Natural gas
A fossil fuel composed mainly of methane, used for power generation, industrial and residential heat, and as a chemical feedstock for hydrogen and ammonia.
- Barrel of oil equivalent (boe)
An energy unit equal to the approximate heat released by burning one barrel (42 US gallons, 158.99 L) of crude oil, about 5.8 MMBtu or 6.12 GJ.