Bank Of Baku

Price of natural gas in Europe fell 1.5 times this year

Price of natural gas in Europe fell 1.5 times this year
# 03 July 2024 09:53 (UTC +04:00)

In the first half of this year, the average price of 1,000 cubic meters of gas in Europe was close to USD 332, APA-Economics reports.

According to the information, in January-June of the current year, the price of futures on the Netherlands' Title Transfer Facility (TTF - the most liquid virtual sales center in Europe) index was USD 331.7, which is 1.5 times less than the indicator of the corresponding period of 2023 (USD 494.3).

The record indicator for the same period was recorded in 2022 and amounted to USD 1138.8. This is 3.4 times more than the average price of the corresponding period of the current year.

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

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