The international rating agency Fitch Ratings has updated its base assumption for the average natural gas price in Europe for the years 2025-2028, APA-Economics reports citing Fitch's base forecast.
The price of gas in Europe based on the TTF index (Netherlands' Title Transfer Facility - the largest virtual trading hub in Europe) is expected to be $12 per 1,000 cubic feet (28.3168 cubic meters) in 2025 (previous forecast – $11), $8 in 2026, $7 in 2027 (the forecast remains unchanged), and $7 in 2028.
According to the assumption, the price of gas in Europe based on the TTF index is $11 per 1,000 cubic feet in 2024.
Note that since December 31, 2020, the transportation of Azerbaijani gas to Europe has been carried out via the Trans Adriatic Pipeline (TAP).
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