Iberian Peninsula's Gas Supply Resilience Offers Some Protection from Global Price Hikes

The conflict in the Middle East has sent fuel prices soaring globally, but one region is experiencing the impact more than others.

The European benchmark price for natural gas, the Title Transfer Facility (TTF), reached highs last week since the start of the war in Iran.

José Enrique Vázquez, president of Pimec's energy commission, attributes this to the Iberian Peninsula's guaranteed supply, which is independent of Russian and Hormuz imports.

The TTF price may be a reference point, but it's not representative of the actual cost, as Vázquez explains: 'the real price of gas depends on who you buy it from.'