Brussels: The international rating agency Fitch Ratings has updated its base assumption for the average natural gas price in Europe for the years 2025-2028, APA-Economics reports citing Fitch’s base forecast. The revised projections indicate a gradual decrease in the price of natural gas in Europe, as assessed by the TTF index, the Netherlands’ Title Transfer Facility, which is the largest virtual trading hub in Europe.

According to Azeri-Press News Agency, the expected price for natural gas in Europe based on the TTF index is $12 per 1,000 cubic feet in 2025, marking an increase from the previous forecast of $11. Moving forward, the prices are anticipated to drop to $8 in 2026 and then to $7 in both 2027 and 2028, with the 2027 forecast remaining unchanged. Additionally, the assumption places the price at $11 per 1,000 cubic feet in 2024.

It is noteworthy that since December 31, 2020, Azerbaijani gas has been transported to Europe through the Trans Adriatic Pipeline (TAP), a significant infrastructure development in the region’s energy landscape.