Business news from Ukraine

Business news from Ukraine

Azerbaijan pans to increase gas export to Europe by 40%

1 October , 2022  

Azerbaijani gas supplies to Europe will increase by 40% to 11.5 billion cubic meters in 2022, Azerbaijani President Ilham Aliyev said.

“In 2022, our export will reach 22 billion cubic meters, of which 11.5 billion cubic meters will be supplied to consumers in Europe. In 2021, 8.2 billion cubic meters was supplied to Europe. This means a 40% increase in the supplies in 2022,” Aliyev said at the ceremony for putting into commercial operation the Gas Interconnector Greece-Bulgaria (IGB) in Sofia on Saturday.

In accordance with the agreements with the European Union, Azerbaijan plans to at least double its gas export to Europe by 2027.

For that purpose, Baku has begun consultations with its partners on the issue of expansion of the Trans-Anatolian Natural Gas Pipeline (TANAP) to 32 billion cubic meters of gas a year and the Trans Adriatic Pipeline (TAP) to 20 billion cubic meters of gas a year, Aliyev said.

“We have already begun consultations with our partners on the expansion of the TANAP from 16 billion cubic meters to 32 billion cubic meters and the TAP from 10 billion cubic meters to 20 billion cubic meters. Because without it it will be difficult to ensure additional supplies,” the president said.

Aliyev said Azerbaijan has the capabilities to increase the gas export volumes by starting extraction at some other gas deposits.

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