TODAY.AZ / Business

Azerbaijan's role strengthens Europe's energy security

09 April 2024 [12:43] - TODAY.AZ
By Azernews

Ulviyya Shahin

In the first quarter of 2024, Azerbaijan's natural gas exports to Europe increased by 10.3 percent, reaching 3.2 billion cubic metres. In addition to Europe, Azerbaijan also transferred 2.3 billion cubic metres of gas to Turkey and 0.9 billion cubic metres to Georgia, making the total exports during that period 6.4 billion cubic metres.

According to Azernews, this was reported by Vugar Bayramov, a member of the Economic Policy, Industry, and Entrepreneurship Committee of the National Assembly, on his social media account.

He noted that Azerbaijan produced 12.6 billion cubic metres of gas, which is 0.4 billion cubic metres more than the corresponding period of the previous year.

"In total, since the exploitation of the 'Azeri-Chirag-Guneshli' and 'Shah Deniz' fields, by April 1, 2024, 219.6 billion cubic metres of gas have been produced from 'Azeri-Chirag-Guneshli' and 216 billion cubic metres from 'Shah Deniz'. During this period, 153.4 billion cubic metres of gas produced from the 'Shah Deniz' field have been transported for export.

As it appears, Azerbaijan's role in shaping the energy security of Europe and the region as a whole is strengthening. Azerbaijan is among the top five countries exporting gas to the European Union. In the next period, it is expected that gas cooperation, especially in Central and Eastern Europe, will further expand. It is expected that more countries will receive Azerbaijan's blue gas, especially through the Greece-Bulgaria interconnector," he added.

Azerbaijan, located at the crossroads of Europe and Asia, has emerged as a significant player in the global energy market, particularly in the realm of natural gas exports. The country's strategic geographic position, coupled with its substantial reserves, has positioned it as a key supplier of energy resources to both regional and international markets.

The surge in Azerbaijan's gas exports not only highlights the country's growing influence in the global energy market but also underscores its commitment to bolstering energy security in Europe and the wider region. As Azerbaijan continues to enhance its energy infrastructure and explore new avenues for cooperation, its role as a reliable energy partner is set to strengthen further, contributing to stability and prosperity in the region.

One of Azerbaijan's major endeavours in the energy sector has been the development of its vast natural gas fields, notably the 'Azeri-Chirag-Guneshli' and 'Shah Deniz' fields. These fields, located in the Caspian Sea, represent a cornerstone of Azerbaijan's energy strategy and have played a pivotal role in the country's economic growth and development.

As Bayramov mentioned, Azerbaijan's increasing role in shaping the energy security of Europe and the wider region is becoming increasingly evident. The country ranks among the top five gas exporters to the European Union, underscoring its significance as a reliable energy partner. Looking ahead, expectations are high for further expansion of gas cooperation, particularly in Central and Eastern Europe. It is anticipated that more countries will benefit from Azerbaijan's gas exports, with potential routes such as the Greece-Bulgaria interconnector playing a key role in facilitating this expansion. As Azerbaijan continues to enhance its energy infrastructure and explore new avenues for cooperation, its role as a pivotal player in the global energy market is set to strengthen further, contributing to regional stability and economic prosperity.

URL: http://www.today.az/news/business/246937.html

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