During today’s trading, the price of 1,000 cubic meters of gas in Europe exceeded $650, APA-Economics reports.
On March 3, the price of April futures under the TTF index (the Netherlands’ Title Transfer Facility, Europe’s most liquid virtual trading hub) reached $656, which is 20% higher compared to the previous settlement price.
Such dynamics were observed against the backdrop of statements by the Islamic Revolutionary Guard Corps (IRGC) regarding the possible closure of the Strait of Hormuz.
Since December 31, 2020, Azerbaijani gas has been transported to Europe via the Trans Adriatic Pipeline (TAP).
