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TTF gas futures prices in the ICE market for the FrontMonth fell in 2023 compared to 2022. These futures reached an average price of €41.40/MWh in 2023. This average was 69% lower than that of the FrontMonth futures traded in 2022, which was €133.19/MWh. It was also slightly lower than the 2021 average, which was €48.54/MWh.
In 2023, supply disruptions from Norway, labour disputes at Australian liquefied natural gas export plants, as well as instability in the Middle East, exerted an upward influence on prices.
However, high levels of European reserves and abundant supplies of liquefied natural gas led to a decline in the annual average price of TTF gas futures in 2023.
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