(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 23. In October 2023,
Greece saw an increase in the volume and costs of natural gas
imported from Azerbaijan, Eurostat, the European Union's
statistical office, told Trend .
Greece imported 161.8 million cubic meters of natural gas from
Azerbaijan, compared to 157.3 million cubic meters in September,
indicating a 2.9 percent rise in import volume.
Over the first ten months of 2023, the cumulative gas exports
from Azerbaijan to Greece reached almost 1.7 billion cubic meters,
with a total value of 744.5 million euros. In October alone, Greece
spent 57.7 million euros on gas imports from Azerbaijan, up from
55.2 million euros in September, representing a 4.5 percent
increase.
Azerbaijan initiated gas transportation to Europe through the
Southern Gas Corridor on December 31, 2020. The Southern Gas
Corridor transports gas from the Caspian Sea region to European
countries via Georgia and Türkiye, with a project cost of 33
billion US dollars. It is expected that the capital costs for the
Southern Gas Corridor will be fully recouped within 8–10 years.
In July 2022, Azerbaijan and the EU reached an agreement to
double the volume of gas supplies via the Southern Gas Corridor
from the current 10 billion cubic meters to 20 billion cubic meters
by 2027.
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