BAKU, Azerbaijan, June 20. Azerbaijan's revenues from oil and gas transit through its territory in 2022 amounted to $4.2 million or 7.2 million manats, compared to the projected 21.8 million manats, Trend reports.
This is while in 2021, this figure stood at 21.4 million manats, according to the Chamber of Accounts.
The actual volume of oil transit through Azerbaijan's territory last year stood at 7.22 million barrels, while the forecasted volume was at 30.9 million barrels.
The sharp decline in revenues from oil and gas transportation through Azerbaijan's territory is caused by the suspension of the Western Export Pipeline (Baku-Supsa) due to the war in Ukraine and restrictions on transportation in the Black Sea.
The Baku-Supsa pipeline has been suspended since May 2022 due to the lack of orders from a group of shippers. When oil shipments from the Baku-Tbilisi-Ceyhan (BTC) pipeline were halted at the Ceyhan terminal following an earthquake in Turkey on February 6, the Baku-Supsa pipeline was opened for deliveries by the State Oil Company of Azerbaijan. However, no further orders have been received since then.
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