{"id":11294,"date":"2024-07-13T04:17:33","date_gmt":"2024-07-13T04:17:33","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11294"},"modified":"2024-07-13T04:17:33","modified_gmt":"2024-07-13T04:17:33","slug":"azerbaijan-boosts-natural-gas-exports-to-europe","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11294\/","title":{"rendered":"Azerbaijan Boosts Natural Gas Exports to Europe"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Azerbaijan raised its natural gas exports to Europe by 12% year-over-year in the first half of 2024, sending 6.4 billion cubic meters (bcm) of its gas to European customers, Azerbaijan’s Minister of Energy, Parviz Shahbazov, said<\/a>\u00a0in a post on X on Thursday.<\/p>\n

Since the Russian invasion of Ukraine and the severely diminished Russian pipeline gas supply to Europe, Azerbaijan has emerged as one alternative source for the EU to get more non-Russian gas.<\/p>\n

In January to June, 6.4 bcm of Azerbaijan’s gas was exported to Europe, accounting for 51% of all Azeri gas exports, according to Azerbaijan’s energy ministry data. Exports to Turkey, at 5 bcm, represented 39% of the country’s gas sales abroad, and the exports to Georgia of 1.3 bcm made up the remaining 10%.<\/p>\n

Total Azeri natural gas sales abroad rose by about 6% in January to June 2024 compared to the same period last year, the minister said.<\/p>\n

The Absheron gas and condensate field, which TotalEnergies and its joint venture partner SOCAR\u00a0started up in July 2023<\/a>, produced more than 1.5 bcm of gas during a year for the early production scheme (EPS) phase.<\/p>\n

“The plans of developing the Absheron field in stages and increasing the annual production from 1.5 bcm to 6 bcm are significant contributions to the energy security of our country, as well as of our regional and European partners,” Shahbazov\u00a0said<\/a>.<\/p>\n

Before the war in Ukraine, Russia supplied around one-third of all the gas to Europe. Currently, Europe’s single biggest source of pipeline gas is Norway, which not an EU member state, but a staunch ally of the bloc and a founding member of NATO.<\/p>\n

Last year, Gazprom’s pipeline gas exports to Europe\u00a0slumped by 55.6%<\/a>\u00a0compared to 2022.<\/p>\n

As a result, Gazprom booked\u00a0its first annual net loss in 23 years<\/a>, signaling a significant shift in financial performance attributed to dwindling gas shipments to Europe and pricing pressures.<\/p>\n

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