Amsterdam: During today’s trading, the price of 1,000 cubic meters of gas in Europe has exceeded 420 US dollars, APA-Economics reports. On July 10, the price of August futures based on the TTF (Title Transfer Facility of the Netherlands, Europe’s most liquid virtual trading hub) index reached 421.9 US dollars, marking a 1.6% increase from the previous settlement price of 415.4 US dollars.

According to Azeri-Press News Agency, this rise in natural gas prices is significant as Europe continues to navigate the complexities of energy supply and demand. The TTF index serves as a critical benchmark for natural gas prices in Europe, reflecting the current market conditions and trading activities.

Additionally, Azerbaijan’s role in supplying gas to Europe through the Trans-Adriatic Pipeline (TAP) since December 31, 2020, highlights the interconnected nature of the European energy market. The TAP is a vital part of the Southern Gas Corridor, which aims to enhance the diversity and security of Europe’s energy supply.