BAKU, Azerbaijan, July 18. Azerbaijan's gas supplies to Europe via the Trans Adriatic Pipeline (TAP) increased by 4 percent year-on-year during the first 6 months of 2023, Trend reports.
According to the data received from the International Energy Agency (IEA), this growth accounts for 0.2 bcm of natural gas exported from Azerbaijan.
Meanwhile, in total, according to the Ministry of Energy of Azerbaijan, the country exported some 5.7 bcm of natural gas to Europe from January through June 2023, which accounted for 48 percent of the total gas exports in the reporting period (12 bcm).
Furthermore, in the first half of 2023, natural gas consumption in OECD Europe experienced a decline of more than 10 percent (over 30 bcm) compared to the previous year.
The pace of demand reduction moderated from a 13-percent drop (22 bcm) in Q1 to a 10-percent decline (9 bcm) year-on-year during Q2. The major contributor to the overall reduction in gas demand during Q2 was the lower gas burn in the power sector, which accounted for 70 percent of the decrease. This was primarily due to decreased electricity demand and increased renewable power output.
Looking at the entire year of 2023, gas demand in OECD Europe is projected to decline by 7 percent.