Azerbaijan-Turkiye Gas Trade Dynamics Foster Stability Across Region

(MENAFN- AzerNews)
Azerbaijan-Turkiye <a target="_blank" href="" class ="search_links_in_body">gas</a> Trade Dynamics Foster Stability Across Region Image
Ulviyya Shahin Read more

In April 2024, Azerbaijan witnessed a substantial surge in its natural gas exports to Turkiye, marking a pivotal moment in the economic relations between these two strategic partners. According to recent reports cited by the Turkish energy market Regulation Authority (EPDK), Azerbaijan's natural gas exports to Turkiye rose by 12.02 percent compared to the same period last year. This increase underscores Azerbaijan's growing role as a crucial supplier of natural gas to Turkiye amidst shifting dynamics in the global energy landscape.

During April 2024, Azerbaijan exported 1.001 billion cubic meters of natural gas to Turkiye, a notable uptick from 893.36 million cubic meters in April 2023. This achievement firmly positions Azerbaijan as Turkiye's largest natural gas exporter during the reporting period. The rise in exports reflects Azerbaijan's commitment to enhancing energy cooperation with Turkiye, leveraging its strategic geographical position and substantial natural gas reserves.

In contrast to Azerbaijan's upward trajectory, Iran and Russia, traditional suppliers to Turkiye, experienced contrasting fortunes. Iran, historically a significant gas exporter to Turkiye, saw its exports decline sharply by 37.25 percent to approximately 543.99 million cubic meters. This downturn underscores challenges faced by Iranian gas exports, possibly influenced by geopolitical factors and economic constraints.

Meanwhile, Russia, another major player in the region, also encountered a substantial decline in its gas exports to Turkiye. Russian exports plummeted by 76.01 percent, supplying only 413.24 million cubic meters in April 2024 compared to 1.524 billion cubic meters in April 2023. This sharp decline highlights Turkiye's diversified approach to sourcing natural gas, pivoting towards more stable and reliable partners.

Turkiye's total gas imports in April 2024 amounted to approximately 2.395 billion cubic meters, reflecting a significant reduction of 39.85 percent from April 2023's 3.982 billion cubic meters. This decrease underscores Turkiye's strategic efforts to manage and diversify its energy sources amidst global supply uncertainties and price fluctuations.

Specifically, imports of pipeline gas, including Azerbaijani supplies via pipelines like the Trans-Anatolian Natural Gas Pipeline (TANAP), decreased by 40.38 percent to 1.958 billion cubic meters. Similarly, liquefied natural gas (LNG) imports, which play a complementary role in Turkiye's energy security strategy, declined by 37.37 percent to 437.25 million cubic meters. These figures highlight Turkiye's adaptability in balancing its energy mix and reducing dependency on any single source or route.

The burgeoning economic ties between Azerbaijan and Turkiye in the natural gas sector signify deeper strategic alignment and mutual economic benefits. Azerbaijan's enhanced role as Turkiye's primary natural gas supplier reinforces bilateral relations built on trust, reliability, and shared economic interests. Moreover, amidst global efforts towards energy transition and sustainability, Azerbaijan's natural gas exports contribute to Turkiye's energy security while aligning with environmental goals.

Looking ahead, the trajectory of the Azerbaijan-Turkiye natural gas trade will likely continue evolving, shaped by geopolitical developments, market dynamics, and technological advancements. As both countries explore opportunities for further collaboration, particularly in infrastructure development and renewable energy initiatives, the strategic partnership is poised to strengthen, fostering stability and economic growth across the region.

Azerbaijan's significant increase in natural gas exports to Turkiye in April 2024 not only underscores economic interdependence but also sets a positive precedent for future cooperation in energy and beyond.



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