Amsterdam: During today’s auctions, the price of 1,000 cubic meters of gas in Europe fell below 340 US dollars, APA-Economics reports.

According to Azeri-Press News Agency, the December 4 TTF (Netherlands’ ‘Title Transfer Facility,’ Europe’s most liquid virtual trading hub) index recorded the price of January futures at 335.8 dollars. This marks a 1.2% decrease compared to the previous settlement price of 340 dollars.

It is noteworthy that the transportation of Azerbaijani gas to Europe via the Trans-Adriatic Pipeline (TAP) commenced on December 31, 2020. This development is significant as it impacts the supply dynamics of natural gas in the European market.