BAKU, Azerbaijan, January 22. In November 2023, Greece increased spending on natural gas imports from Azerbaijan, Eurostat, the European Union's statistical office, told Trend.
In November alone, Greece spent 64.2 million euros on gas imports from Azerbaijan, up from 57.7 million euros in October, representing a 11.3 percent increase.
Greece imported 158.3 million cubic meters of natural gas from Azerbaijan in November, compared to 161.7 million cubic meters in October, indicating a 2.1 percent decrease in import volume.
Over the first 11 months of 2023, the cumulative gas exports from Azerbaijan to Greece reached almost 1.8 billion cubic meters, with a total value of 808.8 million euros.
Azerbaijan initiated gas transportation to Europe through the Southern Gas Corridor on December 31, 2020. The Southern Gas Corridor transports gas from the Caspian Sea region to European countries via Georgia and Türkiye, with a project cost of 33 billion US dollars. It is expected that the capital costs for the Southern Gas Corridor will be fully recouped within 8–10 years.
In July 2022, Azerbaijan and the EU 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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