In March of this year, the average spot market price for natural gas in Europe according to the TTF (the Netherlands’ “Title Transfer Facility”, Europe’s most liquid virtual trading hub) index was 17.84 US dollars per 1 million BTU (British thermal unit).
This was reported by “Elchi” citing a report from the Gas Exporting Countries Forum (GECF).
Thus, in February, the average gas price at the TTF hub decreased by 58% month-on-month and by 36% year-on-year.
The report states that in March, the average spot price of gas at the NBP gas hub (the UK’s main virtual gas trading point and considered one of the most influential centers for the natural gas spot market in Europe – ed.) was 17.54 dollars, which means an increase of 62% month-on-month and 34% year-on-year.
Recall that on December 31, 2020, the transportation of Azerbaijani gas to Europe via the Trans-Adriatic Pipeline (TAP) began.