In December of last year, the average spot market price of natural gas in Europe under the TTF index (the Netherlands’ Title Transfer Facility, Europe’s most liquid virtual trading hub) stood at USD 9.48 per 1 million BTU (British thermal unit), APA-Economics reports, citing a report by the Gas Exporting Countries Forum (GECF).
Thus, in December, gas prices in Europe decreased by 8% on a monthly basis and by 31% on an annual basis.
Recall that since December 31, 2020, the transportation of Azerbaijani gas to Europe via the Trans Adriatic Pipeline (TAP) has begun.
Note that to date, more than 54 billion cubic meters of gas have been transported to Europe via TAP.
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