The price of November gas futures in Europe has exceeded $1,050 per 1,000 cubic meters, marking the first time this level has been recorded since December 2022, APA-Economics reports.
According to data from London's ICE exchange, the price of November futures at the Netherlands-based TTF gas hub stood at approximately $1,055 per 1,000 cubic meters, or 91.07 euros per megawatt-hour (MWh).
It should be noted that TTF (Title Transfer Facility) is a virtual gas trading hub located in the Netherlands. Futures prices formed at TTF are considered one of the main price benchmarks for the European gas market.
Recall that the transportation of Azerbaijani gas to Europe via the Trans Adriatic Pipeline (TAP) began on December 31, 2020.