Amsterdam: Natural gas prices in Europe experienced a 2% decline, closing below $405 per 1,000 cubic meters on May 14.
According to Azeri-Press News Agency, June futures on the TTF (Title Transfer Facility) index, which is the most liquid virtual gas hub in Europe located in the Netherlands, were priced at $403. This marks a decrease from the previous settlement price of $411.2.
The Trans-Adriatic Pipeline (TAP) has been instrumental in transporting Azerbaijani gas to Europe, with operations commencing on December 31, 2020.