London:The price of November gas futures in Europe has surpassed $1,050 per 1,000 cubic meters, marking the first instance this level has been reached since December 2022. This development is reported by APA-Economics.
According to Azeri-Press news agency, data from London’s ICE exchange indicate that the price of November futures at the Netherlands-based TTF gas hub is approximately $1,055 per 1,000 cubic meters, which translates to 91.07 euros per megawatt-hour (MWh).
The Title Transfer Facility (TTF) in the Netherlands is a key virtual gas trading hub, and the futures prices set there serve as a significant benchmark for the European gas market. The transportation of Azerbaijani gas to Europe through the Trans Adriatic Pipeline (TAP) commenced on December 31, 2020, adding to the supply chain.
Source Azeri-Press news agency