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Weekly review of Azerbaijan's energy market

Economy Materials 14 November 2022 10:13 (UTC +04:00)
Weekly review of Azerbaijan's energy market
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, November 14. Last week was memorable for a number of important statements made regarding the expansion of Azerbaijan's energy potential, Trend reports.

Minister of Energy and Natural Resources of Türkiye Fatih Donmez said that gas from Azerbaijan, Iraq, Persian Gulf countries, Israel can be connected to a gas hub in Türkiye.

"To date, gas supplies are carried out from Russia, Azerbaijan, Iran. Azerbaijan supplies gas via Baku-Tbilisi-Erzurum pipeline. By TANAP there is a possibility of its further transportation to European countries. In addition, due to the Balkan pipeline, it became possible to activate the Blue Stream in Samsun," he stated.

In addition, Kazakhstan will start exporting 1.5 million tons of oil through the Baku-Tbilisi-Ceyhan pipeline from January 1, 2023.

"Kazakhstan has an agreement to ship 1.5 million tons of oil through Baku-Tbilisi-Ceyhan pipeline from January 1,2023. And its further increase to 6-6.5 million tons is being worked through," Prime Minister of Kazakhstan Alikhan Smailov said.

Also, Ministry of Energy of Azerbaijan said the production and export of energy has increased since the beginning of the year. According to the ministry, gas production in Azerbaijan from January through October 2022 amounted to 38.4 billion cubic meters, which is by 7.3 percent, or 2.6 billion cubic meters more compared to the same period last year. Meanwhile, some 18.2 billion cubic meters were exported from the total volume of Azerbaijani gas produced in the first 10 months of 2022, which is 17.4 percent more than over the same period last year.

Moreover, Azerbaijan has manufactured 27.2 million tons of oil, including condensate. In the reporting period, Azerbaijan exported 21.9 million tons of oil, including condensate.

Lat week, independent transmission operator, which is responsible for the commercial operation of the IGB informed that the total amount of natural gas transported through the Interconnector Greece-Bulgaria (IGB) from October 1 through November 1, 2022, amounted to 95 million cubic meters (1.1 billion kWh).

Furthermore, the US Energy Information Administration (EIA) said that it expects that petroleum and other liquids production in Azerbaijan will stand at 0.67 million barrels per day (mb/d) in 2022. And in 2023 Azerbaijan is expected to produce 0.64 million barrels per day.

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