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NATGAS: Azerbaijan Gas Exports to Europe Rose 9.3% y/y in Jan-Sept. 2024

NATGAS
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Azerbaijan gas exports to Europe rose 9.3% y/y in Jan-Sept. 2024 to about 9.4bcm, according to Energy Ministry data cited by Bloomberg.

  • Total gas exports from Azerbaijan were up 4.2% y/y to 18.4bcm in the period.
  • The total shipped to Turkey was down to 7.3bcm from 7.5bcm a year earlier while exports to Georgia were unchanged at 1.7bcm.
  • Natural gas production in Jan-Sept. increased by 1.1bcm y/y to 37.1bcm
  • Azerbaijan currently exports gas to Italy, Bulgaria, Greece, Hungary, Romania, Serbia and Slovenia and has previously stated aims to raise gas exports to Europe to 20bcm by 2027.
  • The market continues to watch for any signs of Azerbaijan gas replacing Russian gas transit via Ukraine into next year, but analysts doubt whether Baku has surplus gas to sell or about any possibility of a Gazprom swap deal.
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Azerbaijan gas exports to Europe rose 9.3% y/y in Jan-Sept. 2024 to about 9.4bcm, according to Energy Ministry data cited by Bloomberg.

  • Total gas exports from Azerbaijan were up 4.2% y/y to 18.4bcm in the period.
  • The total shipped to Turkey was down to 7.3bcm from 7.5bcm a year earlier while exports to Georgia were unchanged at 1.7bcm.
  • Natural gas production in Jan-Sept. increased by 1.1bcm y/y to 37.1bcm
  • Azerbaijan currently exports gas to Italy, Bulgaria, Greece, Hungary, Romania, Serbia and Slovenia and has previously stated aims to raise gas exports to Europe to 20bcm by 2027.
  • The market continues to watch for any signs of Azerbaijan gas replacing Russian gas transit via Ukraine into next year, but analysts doubt whether Baku has surplus gas to sell or about any possibility of a Gazprom swap deal.