Baku: The price of 1,000 cubic meters of gas in Europe dropped below $700 at the close of trading yesterday.

According to Azeri-Press News Agency, on March 23, the price of April futures on the TTF (Netherlands' Title Transfer Facility, Europe's most liquid virtual trading hub) index amounted to $671.8. This marks a decrease of 5.1% compared to the previous settlement price of $708.1.

It should be noted that the transportation of Azerbaijani gas to Europe via the Trans Adriatic Pipeline (TAP) began on December 31, 2020. This development has played a role in the dynamics of gas prices across the continent.