Baku: Fitch Ratings has updated its base forecast for the average price of natural gas in Europe for the years 2025 to 2028.
According to Azeri-Press News Agency, the forecast is based on the TTF index, which is Europe’s largest virtual trading hub located in the Netherlands. The updated forecast predicts that the price of natural gas will be $12 per 1,000 cubic feet in 2025, decreasing to $8 in 2026, and $7 in both 2027 and 2028. These forecasts for 2027 and 2028 remain unchanged from previous projections.
The report also highlights that the current price of natural gas in Europe for 2024, based on the TTF index, stands at $11 per 1,000 cubic feet. This price serves as a reference point for the subsequent forecasts.
Additionally, it is noted that since December 31, 2020, Azerbaijan has been transporting natural gas to Europe through the Trans Adriatic Pipeline (TAP), which plays a role in the dynamics of gas supply to the region.