Amsterdam: At the close of trading yesterday, the price of gas in Europe exceeded $570 per 1,000 cubic meters, APA-Economics reports.
According to Azeri-Press News Agency, on April 29, the price of May futures on the TTF (the Netherlands’ Title Transfer Facility, Europe’s most liquid virtual trading hub) index amounted to $574.4. This represents an increase of 8.8% compared to the previous settlement price of $527.7.
Since December 31, 2020, the transportation of Azerbaijani gas to Europe via the Trans-Adriatic Pipeline (TAP) has commenced. This development is part of the Southern Gas Corridor project aimed at diversifying Europe’s gas supply sources and enhancing energy security.