BAKU, Azerbaijan, July 31. Azerbaijan has secured its position as one of the top five gas exporters to Europe, Trend reports.
Data from the European Commission indicates that in the first quarter of 2024, Norway continued to dominate as the EU's largest pipeline gas exporter, accounting for 54 percent of the EU's pipeline imports (22 billion cubic meters). This marks a 4 percentage point increase from the previous quarter and a 1 percentage point rise from the first quarter of 2023, reaching a historical high in the share of EU pipeline gas imports.
North Africa emerged as the second-largest gas pipeline exporter to the EU, holding an 18 percent share (7.3 bcm), followed closely by Russia, which also held an 18 percent share (7.2 bcm). Azerbaijan contributed 7 percent (3 bcm) to the EU's pipeline gas imports, while the UK accounted for 4 percent (1.7 bcm).
Overall, EU pipeline gas imports in the first quarter of 2024 remained stable compared to the previous year, totaling 41 bcm, but experienced a 5 percent decline compared to the previous quarter (-2.3 bcm). Since the first quarter of 2021, EU pipeline gas imports have decreased by 37 percent (-24 bcm), primarily due to an 81 percent reduction in Russian pipeline imports (-29 bcm). This decline has been partially offset by a 21 percent increase (+4 bcm) in Norwegian imports during the same period.
Azerbaijan supplies gas to Europe via the Trans Adriatic Pipeline (TAP), the final leg of the Southern Gas Corridor. Its capacity is 10 billion cubic meters with possibility of ramping up to 20 billion cubic meters per year.
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