In December of last year, the average spot market price of natural gas in Europe according to the TTF index (Netherlands’ Title Transfer Facility, Europe’s most liquid virtual trading hub) was $9.48 per 1 million BTU (British thermal unit).
Elchi.az reports this with reference to the report of the Gas Exporting Countries Forum (GECF).
Thus, the price of gas in Europe decreased by 8% on a monthly basis and 31% on an annual basis in December.
Let us remind you that the transportation of Azerbaijani gas to Europe via the Trans-Adriatic Pipeline (TAP) started on December 31, 2020.
It should be noted that more than 54 billion cubic meters of gas have been transported to Europe via TAP so far.