Natural gas will become cheaper in Europe in 2023-2024 - FORECAST

Natural gas will become cheaper in Europe in 2023-2024 - FORECAST
# 15 November 2023 17:29 (UTC +04:00)

The European Commission has reduced its forecast for the average annual price of natural gas in Europe for 2023-2024, the agency for 2023 according to the TTF (The Netherlands` "Title Transfer Facility" – Europe`s most liquid virtual sales center) index, the price of gas per MWh (electricity) in Europe equivalent - ed.) reduced its forecast from 48 euros to 43.3 euros, APA-Economics reports citing Fitch.

According to the forecast, the price of gas in Europe according to the TTF index is likely to be 55.1 euros per MWh in 2024 (previous forecast – 55.4 euros).

According to the report, the price of gas in Europe for 2025 is forecasted at the level of 47.7 euros per MWh.

Noted that from December 31, 2020, the transportation of Azerbaijani gas to Europe through the Trans-Adriatic Pipeline (TAP) began.

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