Amsterdam: Natural gas prices in Europe experienced a significant decline in November, falling by 25% compared to the same month last year. This was reported based on the TTF (Title Transfer Facility of the Netherlands) index, which is recognized as the most liquid virtual sales center in Europe.
According to Azeri-Press News Agency, the average cash market price of natural gas in Europe during November was 10.35 US dollars per 1 million BTU (British thermal unit), as cited in the Gas Exporting Countries Forum (GECF) report. The decline in prices also reflected a 5% decrease compared to the previous month.
The report highlighted that the average daily price of gas in Europe fell to 9.77 dollars in November, marking the lowest point since May 2024. This continued downward trend in gas prices could have implications for energy markets and consumer costs across the region.
It is worth noting that Azerbaijani gas has been transported to Europe through the Trans-Adriatic Pipeline (TAP) since December 31, 2020. This development has been a significant factor in the diversification of energy sources in Europe.