Bulgaria raises gas imports from Azerbaijan 1.6-fold in 9M, Greece sees imports fall 22%

BAKU. Dec 2 (Interfax) - Turkey has maintained its leading position among purchasers of Azerbaijani gas, accounting for 39% of total gas exports from that country in January-September 2024.

Azerbaijan exported 7.302 billion cubic meters of gas to Turkey in the reporting period, down 17.7%, which were worth $2.256 billion, down 27.1%, Azerbaijan's State Statistics Committee told Interfax.

Italy was in second place in terms of purchases of Azerbaijani gas, accounting for 38.94%, while Georgia came in third with 11%, pushing Bulgaria into fourth place at 7.2%.

From January to September 2024, growth in both volume and value terms was recorded only in gas exports to Bulgaria, while declines in both volume and value terms were observed in exports to Italy, Turkey, and Greece. Overall, Azerbaijan exported gas to six countries in 9M 2024.

Volume, thousand cubic m Change to Jan-Sept 2023 Share of total volume, % Revenue, thousand $ Change to Jan-Sept 2023 EUROPE Italy 7 294 277,33 -3,6% 38,94 2 888 315,41 - 2.3-fold Bulgaria 1 344 342,51 + 1.6-fold 7,2 425 361,88 +34,3% Greece 692 582,83 -21,6% 3,7 281 069,63 - 2.8-fold Serbia 32 316,56 - 0,17 11 614,06 - REGION Turkey 7 301 959,14 -17,7% 39 2 256 024,09 -27,1% Georgia 2 065 587,62 +18,9% 11 212 910,91 -26,4% TOTAL 18 731 065,99 -8,3% 100 6 075 295,99 - 1.9-fold

Gas exports from Azerbaijan are forecast at 25 billion cubic meters in 2024. A total of 12.5 billion cubic meters will be supplied to Europe.