Azerbaijan's gas pipeline revenues soar to nearly $800 million in first half of 2024

Azerbaijan's revenues from the operation of main gas pipelines, including the South Caucasus Pipeline (SCP), reached 1,359.813 million manats ($799.9 million at the current exchange rate) in the first half of 2024, according to the State Statistics Committee.

Compared to the January-June 2023 figures, these revenues have grown by 7.8%.

In another positive development, losses in the main gas pipeline network decreased by 37.4% to 23.8 million cubic meters in the first half of 2024.

During the January-June 2024 period, a total of 20,540.7 million cubic meters of gas were transported through the main gas pipelines, marking a 1.3% increase compared to the same period in 2023. Notably, the South Caucasus Pipeline accounted for 55.6% of the total volume transported.

In 2023, Azerbaijan's revenues from the operation of main gas pipelines, including the SCP, amounted to 2,516,082,500 manats, representing an 8.1% growth. However, network losses increased by 18.2% to 59.8 million cubic meters during the same year.