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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATURAL GAS
Europe is looking to Azerbaijan as a key source for the diversification of gas supplies but aggressive near-term investment in both the upstream and midstream sectors will be required to meet these volumes according to S&P Global.
- In July 2022 the EU agreed a MoU to double the volume of Azeri gas import capacity into Europe from 10bcm/y to 20bcm/y by 2027 through the Southern Gas Corridor.
- Azerbaijan must invest more in its offshore fields to maintain domestic market equilibrium while fulfilling European export demands and with increasing demand from Georgia to move away from Russian imports.
- Gas flows are sent to Europe via the Trans-Anatolian Natural Gas Pipeline (TANAP). and Trans Adriatic Pipeline (TAP) supplying gas to Italy, Greece, Bulgaria and Albania. The TANAP current capacity is around 16bcm/y and TAP at 10bcm/y so significant upgrades will be required to handle additional volumes.
- Azerbaijan's domestic gas consumption could increase 25% to 15bcm/y by 2030.
- Projects aimed to boost production may not all be realised and in the required timeframe. Azerbaijan may require additional volumes from Turkmenistan, Iran and Russia to balance against the higher domestic and export demand.
Source: S&P Global
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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