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 Azerbaijan Exports 3.2 BCM of Natural Gas to EU in Q1-2024


Azerbaijan Exports 3.2 BCM of Natural Gas to EU in Q1-2024

In what should be music to the ears of European Union (EU) member states, Central Asian nation Azerbaijan has exported 3.2 billion cubic metres (BCM) of gas (out of 12.6 BCM it produced) to Europe in the first quarter of 2024, according to Azeri Minister of Energy Parviz Shahbazov.

Azerbaijan exported 23.8 BCM of gas, about half of which (11.8 BCM) went to the European market. The Ministry of Energy estimated that the export volume for 2024 will reach 24 BCM. Azerbaijan is the fourth largest supplier of pipeline gas to the EU behind Algeria, Norway, the UK, and Russia at the beginning of this year.

Led by the US, the Western nations have imposed ban on Russian oil and gas shipments after it invaded Ukraine more than two years ago. Since then, these countries have been scouting and signing agreements with many natural gas exporters across the world to meet their demand for natural gas.

According to the Energy Ministry’s data, 2.3 billion cubic metres of gas were exported to Turkey, and 0.9 billion cubic metres were exported to Georgia this year. Additionally, 1.3 billion cubic metres of gas were transported to Turkey via the Trans-Anatolian Gas Pipeline (TANAP), during the first three months of this year.

Azerbaijan has started supplying gas to EU nations from 31 December 2020 through the Trans Adriatic Pipeline (TAP), which is part of the Southern Gas Corridor. Currently, the pipeline’s transportation capacity is 12 billion cubic metres per year, with plans to increase it to 20 billion cubic metres by the end of 2027.

The total length of the TAP pipeline is 878 km and this includes 550 km passing through the northern part of Greece, 215 km through Albania, 105 km under the Adriatic Sea, and 8 km through Italy. Italy, Greece, Bulgaria, Romania, Hungary, and Serbia are among the European countries that import Azerbaijani gas.

The transportation of “blue fuel” to Bulgaria is carried out via the Greece-Bulgaria Interconnector (IGB), which is connected to TAP. The state company “Bulgargaz EAD” has signed a contract with the “Shah Deniz” consortium for the supply of 1 billion cubic metres of gas from the Shah Deniz 2 field.

The pipeline, with a total length of 182 km, passes through 150 km of Bulgarian territory. It is expected to have an annual transportation capacity of 3 billion to 5 billion cubic metres.

Key Player in EU Market

Azerbaijan’s exceptional performance in gas exports to Europe during Q1 of 2024 demonstrates its growing significance as a key player in the European energy market.

With strategic investments in infrastructure and a commitment to meeting the region’s energy needs, Azerbaijan is well-positioned to play a vital role in ensuring energy security and stability in Europe for years to come.

Global Business Magazine

Global Business Magazine

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