BAKU, Azerbaijan, December 22. Italy has recorded a significant increase in natural gas imports from Azerbaijan, reaching 881.2 million cubic meters in October 2023, compared to 800.5 million cubic meters in September, Eurostat, the European Union's statistical office, told Trend.
This notable surge represents a month-on-month growth of over 10 percent.
Over the first ten months of 2023, Italy's cumulative gas imports from Azerbaijan totaled 7.7 billion cubic meters, equivalent to a value exceeding 4 billion euros. In October alone, the value of these imports amounted to 364.2 million euros, indicating a substantial increase of almost 17.3 percent from the 310.6 million euros recorded in September.
Azerbaijan initiated gas transportation to Europe through the Southern Gas Corridor on December 31, 2020. This corridor facilitates the transport of gas from the Caspian Sea region to European countries, passing through Georgia and Türkiye. The project, with a total cost of 33 billion US dollars, is anticipated to recoup its capital costs within 8–10 years.
In July 2022, Azerbaijan and the European Union reached an agreement to double the volume of gas supplies via the Southern Gas Corridor, from the current 10 billion cubic meters to 20 billion cubic meters by 2027.
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