Amsterdam: At the close of trading yesterday, the price of gas in Europe exceeded $400 per 1,000 cubic meters.
According to Azeri-Press News Agency, the price of March futures under the TTF index, which is the Netherlands’ Title Transfer Facility and Europe’s most liquid virtual trading hub, reached $403.7. This marks a 4.8% increase compared to the previous settlement price of $385.1.
It is noteworthy that the transportation of Azerbaijani gas to Europe via the Trans Adriatic Pipeline (TAP) commenced on December 31, 2020. The TAP is a critical component in the diversification of Europe’s gas supply sources.