Azerbaijan increases gas exports to Italy

Azerbaijan exported over 3.07 bcm of natural gas to Italy for $1.338 billion in January-April 2024, Report informs, citing the State Statistics Committee of Azerbaijan.

Compared to the first four months of 2023, the volume of gas transportation to Italy in the reporting period of 2024 increased by 27.9% or 670.76 million cubic meters in quantity. In terms of value, the volume of exports decreased by 63% or over $2.28 billion.

In total, in the first four months of 2024, Azerbaijan exported 7.706 bcm of gas (18.3% less) for $2.758 billion (49.1% less).

In the reporting period, Türkiye, Italy and Bulgaria were among the TOP 3 importers of Azerbaijani gas. At the same time, Italy received 39.8% of the total volume of gas exported from Azerbaijan. With this, Italy became the second-largest buyer of Azerbaijani gas after Türkiye.

In 2023, Azerbaijan exported over 10.7 bcm of gas to Italy for $8.05 billion.

The export of Azerbaijani gas to Europe through the Trans-Adriatic Pipeline (TAP), a segment of the Southern Gas Corridor, began on December 31, 2020. To date, TAP's transmission capacity has exceeded 12 bcm, and is expected to reach 20 bcm by the end of 2027.