Baku: The price of 1,000 cubic meters of gas in Europe fell below $375, APA-Economics reports. On August 15, the price of September futures on the TTF (Title Transfer Facility of the Netherlands, the most liquid virtual sales center in Europe) index was $374.3, which is 3.5% less than the previous calculation price of $388.
According to Azeri-Press News Agency, the transportation of Azerbaijani gas to Europe through the Trans-Adriatic Pipeline (TAP) began on December 31, 2020. This development marked a significant milestone in the diversification of energy sources for European countries, providing a steady supply of natural gas from the Caspian region. The drop in gas prices comes amidst a backdrop of fluctuating energy markets, where shifts in supply and demand dynamics have been closely monitored by stakeholders.