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Azerbaijan Gas to Europe to Edge Higher in 2023

NATURAL GAS

Azerbaijani has announced plans to increase supplies of gas to 24 billion cubic meters, including a minimum of 11.6 billion cubic meters to Europe, in 2023 according to its President Ilham Aliyev over the weekend.

  • “Export of gas [to Europe] reached 8.2 billion cubic meters last year and 11.3 billion cubic meters this year and is expected to be about at least 11.6 billion cubic meters next year," Aliyev said.
  • "Overall, Azerbaijan is expected to export about 24 billion cubic meters of gas next year, for comparison, 19 billion cubic meters [were exported] in 2021," Aliyev said.
  • Azerbaijan has stepped in as a key replacement to Russian gas for Europe this year.
  • The leaders of Azerbaijan, Georgia, Romania and Hungary also signed an agreement on Saturday on an underwater electric cable under the Black Sea to carry green Azeri energy to Europe.

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