BAKU, Azerbaijan, January 10. Azerbaijan exported 36.6 million cubic meters of natural gas to Serbia from February to October 2024, totaling 12.6 million euros, Eurostat, the statistical office of the European Union, told Trend.
The monthly breakdown of volumes and values reveals notable dynamics:
|
Month |
Value (EUR) |
Volume (million cubic meters) |
|---|---|---|
|
February |
2,522,193 |
6.5 |
|
March |
1,976,649 |
6.05 |
|
April |
1,375,502 |
4.8 |
|
May |
918,993 |
3.2 |
|
June |
1,024,246 |
3.3 |
|
July |
1,082,789 |
3.2 |
|
August |
1,205,467 |
3.3 |
|
September |
1,138,762 |
3.3 |
|
October |
1,307,785 |
3.2 |
February saw the highest volume of exports, at 6.5 million cubic meters, contributing 2.52 million euros in value. This period likely represents a heightened demand during winter months. Export volumes tapered off in the subsequent months, reaching their lowest levels in May (3.2 million cubic meters). This decline aligns with reduced natural gas demand during the warmer spring and summer months.
From June to October, monthly export volumes stabilized at around 3.2–3.3 million cubic meters, indicating a consistent supply-demand balance during this period. While the volume stabilized in the latter months, the value fluctuated slightly. For instance, August recorded a higher value (1.21 million euros) compared to July (1.08 million euros) despite similar volumes.
On November 15, 2023, the State Oil Company of Azerbaijan (SOCAR) and Serbia's Srbijagas signed an agreement for the supply of Azerbaijani gas to Serbia. Under the agreement, up to 400 million cubic meters of gas will be delivered annually from Azerbaijan to Serbia between 2024 and 2026, with the option to increase volumes starting in 2027.
The delivery of Azerbaijani gas to Serbia began in February 2024.
In September 2024 SOCAR and Srbijagas signed a Purchase and Sale Agreement on additional daily gas supply of 1 million cubic meters, which covers the period from 1 November 2024 to 1 April 2025.
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