Amsterdam: During today’s auctions, the price of 1,000 cubic meters of gas in Europe has surpassed 405 USD, marking a significant development in the energy markets.

According to Azeri-Press News Agency, the price of August futures on the TTF (Title Transfer Facility of the Netherlands, the most liquid virtual sales center in Europe) index was recorded at 405.5 USD. This figure represents a 1.2% increase from the previous calculation price of 400.7 USD.

The transportation of Azerbaijani gas to Europe through the Trans-Adriatic Pipeline (TAP) began on December 31, 2020. This development is crucial as it signifies the ongoing dynamics in the European energy supply and the role of Azerbaijani gas in the continent’s energy mix.