Brussels: Natural gas prices in Europe have experienced a 3% increase, reaching a price point of 467.6 US dollars per 1,000 cubic meters at the close of auctions yesterday. This marks a significant rise compared to the previous settlement price of 453.9 dollars.

According to Azeri-Press News Agency, the increase was observed in the pricing of April futures as per the TTF (Title Transfer Facility) index, which is known as Europe's most liquid virtual trading hub located in the Netherlands. This change highlights the ongoing fluctuations in the energy market across the continent.

It is noteworthy that since December 31, 2020, Azerbaijani gas has been transported to Europe via the Trans-Adriatic Pipeline (TAP). This development has played a crucial role in the diversification of gas supplies to the European market.