Baku: In July this year, the average price of natural gas in Europe stood at $18.06 per million BTU (British thermal unit), experiencing a 19.1% increase from the previous month's figure of $15.17. The World Bank's monthly commodity markets report highlights this significant rise.

According to Azeri-Press News Agency, the average price of natural gas in Europe reached $15.58 in the second quarter of this year, marking a 31.3% increase from the same period last year, when prices averaged $11.87. The report also recalls that the average price of natural gas in Europe is projected to be $11.96 in 2025, representing a 9.1% increase from the 2024 figure of $10.96. Notably, the transportation of Azerbaijani gas to Europe via the Trans Adriatic Pipeline (TAP) commenced on December 31, 2020.

In contrast, the United States saw a decrease in natural gas prices. The average price in July was $2.89 per million BTU, which is 8.3% lower than the previous month's figure of $3.15. The report also notes that the average price in the United States during the second quarter was $2.95, a 7.2% decrease from the same period last year, when it was $3.18. Furthermore, it is noted that the average price of natural gas in the United States is expected to reach $3.53 in 2025, which would be 61.2% higher than the previous year's figure of $2.19.