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Azerbaijan in Talks for Gas Supply to More EU Countries

NATURAL GAS

Azerbaijan is in talks to export gas to several more European countries according to President Ilham Aliyev on Wednesday with plans to increase production from new and existing deposits.

  • The country currently exports natural gas to six countries in Europe with 2023 supplies up to 11.8bcm from 11.4bcm in 2022.
  • Details of the potential new buyers were not given but the talks have reached “an important phase” Aliyev said.
  • The country plans to send 20bcm/yr of natural gas to Europe by 2027 but new pumping stations are required with the Southern Gas Corridor pipelines currently operating at full capacity.
  • The ACG Deep Gas project in the Caspian Sea is expected to start production by December with aims for a final investment decision on the second phase of Absheron project to increase production to 5bcm/yr according to Bloomberg.

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