Azerbaijan to double gas supplies to Europe
In the next few years, Azerbaijan will double gas exports to European countries within the framework of a memorandum on strategic partnership in the energy sector signed earlier between the European Union and the republic. This was stated by the President of Azerbaijan Ilham Aliyev.
“Azerbaijan's proven gas reserves are 2.6 trillion cubic meters. The new diversified gas transportation infrastructure allows us to supply natural gas to many countries of the world. Undoubtedly, the successes achieved in this area are a good basis for future plans,” Mr. Aliyev said (quoted from trend).
Minister of Energy of Azerbaijan Parviz Shahbazov earlier notedthat in 2022, the supply of Azerbaijani gas increased by 9.7%. The country exported 14.4 billion cubic meters of gas. In early September, Mr. Aliyev also informedthat he intends to double the capacity of the TANAP gas pipeline connecting Azerbaijan with Europe from 16 billion to 32 billion cubic meters.
After the start of the military operation in Ukraine, the European Union imposed sanctions on Russia, including an oil embargo. In turn, Russia reduced gas supplies to Europe, as a result, gas prices rose to historical highs. Maximum gas cost was fixed March 7 — €345 for 1 MW•h.
In addition, in September, a pressure drop was recorded in part of the Nord Stream gas pipeline between Russia and Germany, due to which gas leaks occurred. Analysts believe repairs could take several years.
More about the accident - in the material "Kommersant" "Nord Stream" drowned quietly".
