In August this year, the average spot price of natural gas in Europe based on the TTF index (the Netherlands’ Title Transfer Facility, Europe’s most liquid virtual trading hub) stood at $21.03 per 1 million BTU (British thermal units), APA-Economics reports, citing a report by the Gas Exporting Countries Forum (GECF).
Thus, the average gas price at the TTF trading hub increased by 17% month-on-month and 92% year-on-year in August.
The report states that the average spot price of gas at the NBP gas trading hub (the UK’s main virtual gas trading point and one of Europe’s most influential hubs for the natural gas spot market) amounted to $20.62 in August, representing an increase of 19% month-on-month and 93% year-on-year.
It should be noted that the transportation of Azerbaijani gas to Europe via the Trans Adriatic Pipeline (TAP) began on December 31, 2020.
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