Europe's natural gas prices drop by 10%

Europe
# 07 September 2023 10:37 (UTC +04:00)

Gas prices dropped below USD 345 for 1000 cubic meters in auctions held yesterday in Europe, APA-Economics reports.

Prices for October futures amounted to 344,2 dollars on September 6 in comparison to the previous counting price (382,9 dollars) in TTF (The Netherlands` "Title Transfer Facility" – Europe`s most liquid virtual sales center) index, making it a 10,1% decrease.

It must be noted that Europe’s gas prices have increased to the maximum record price of 3900 dollars a couple of times during the day on March 7 last year.

Note that from December 31, 2021, Azerbaijan's gas transport to Europe through Trans-Adriatic pipeline (TAP) started.

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