BAKU, Azerbaijan, December 24. In the third quarter of 2024, Azerbaijan solidified its position as one of the key natural gas suppliers to the EU, contributing 4% of the EU’s total gas imports, equivalent to 2.7 bcm, Trend reports.
While this represents a modest share compared to larger suppliers like Norway and Russia, Azerbaijan’s steady growth highlights its strategic importance in the EU’s efforts to diversify energy sources.
Azerbaijan’s gas exports to the EU in 3Q2024 saw stable performance compared to previous quarters, aligning with the EU’s increasing reliance on the Southern Gas Corridor. In 3Q2023, Azerbaijan’s share also stood at 4%, delivering 2.7 bcm. However, compared to 3Q2022, when Azerbaijan supplied approximately 2.5 bcm (3% of the total imports), this reflects a 8% increase in volumes over two years.
In 2Q2024, Azerbaijan exported 2.6 bcm of natural gas to the EU, maintaining consistency as a reliable supplier. The slight increase to 2.7 bcm in 3Q2024 underscores the country’s ability to maintain steady export levels even as overall EU gas demand declines.
Azerbaijan has become a cornerstone of the EU’s diversification strategy, offering an alternative to Russian gas and contributing to the bloc’s energy security. The Southern Gas Corridor, a major infrastructure project completed in recent years, has played a critical role in enabling Azerbaijan to export gas directly to European markets. This pipeline network connects Azerbaijan’s vast Shah Deniz gas field to EU member states. The corridor allows for a capacity of over 10 bcm annually, with room for expansion as demand grows.
While Norway, Russia, and the United States dominate the EU’s gas imports, Azerbaijan has carved out a niche by offering a stable and politically reliable supply. In Q3 2024:
• Norway supplied 33% of the EU’s total imports (21.3 bcm).
• Russia accounted for 20% (12.7 bcm).
• Azerbaijan’s 4% share places it on par with Qatar and ahead of Nigeria, solidifying its role as a mid-tier supplier.
As the EU continues its transition toward cleaner energy, demand for natural gas is expected to decline gradually. However, Azerbaijan’s strategic position and existing infrastructure ensure it will remain a key player in the medium term. With potential pipeline expansions and increased production capacity, Azerbaijan may grow its market share further, especially as EU member states reduce dependency on Russian energy imports.
