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Monthly analysis of European gas imports from Azerbaijan in 2023

Oil&Gas Materials 29 March 2024 15:45 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, March 29. In 2023, EU countries imported a total of 12.2 billion cubic meters of gas from Azerbaijan, valued at 6.2 billion euros, Eurostat, the European Union's statistical office, told Trend.

EU gas imports from Azerbaijan peaked in October standing at 1.1 billion cubic meters, while the highest value was recorded in January with more than 1 billion euros.

The table below shows the dynamics of monthly gas supplies from Azerbaijan to EU in 2023:

Month

Volume of supplies (million cubic meters)

Value of supplies (euros)

January

972.9

1 006 939 047

February

918.9

611 321 792

March

1.06 billion

595 988 162

April

1.05 billion

488 241 329

May

1.004 billion

461 737 921

June

994.6

348 239 847

July

998.6

339 054 249

August

998.8

327 456 804

September

1.04 billion

389 204 742

October

1.1 billion

444 965 357

November

1.07 billion

706 242 868

December

998.08

442 252 550

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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