Natural gas export from Azerbaijan to Europe reaches record level

JULY 29, 2022

While the European Union (EU) countries are experiencing the shock of minimizing natural gas imported from Russia, the daily volume of gas transported by Azerbaijan to Europe through the Southern Gas Corridor has increased to 37 million cubic meters, citing EADaily portal.

The portal claimed that the old record of 36 million cubic meters was broken in July.

As reported, if gas transportation maintains the current pace, annual export will reach 13.5 billion cubic meters.

Experts said this volume is quite large but not enough to fill the gap caused by Gazprom's export reduction.

The portal emphasized that as a result of Gazprom reducing natural gas transportation by 40%, the price of each thousand cubic meters of gas exceeded $2,300.

European Union officials aim to increase the volume of natural gas produced from the Caspian Sea to 20 billion cubic meters annually in the next five years.