Greece Reduces Spending On Azerbaijani Gas Imports
Date
8/10/2024 2:17:43 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, August 10. Greece has reduced
spending on natural gas imports from Azerbaijan in May 2024,
Eurostat, the European Union's statistical office, told Trend .
In May 2024, Greece spent 52.6 million euros on gas imports from
Azerbaijan, down from 68.8 million euros in May 2023, representing
a decrease by 23.5 percent.
Greece imported almost 94 million cubic meters of natural gas
from Azerbaijan in May 2024, compared to 94.2 million cubic meters
in May 2023, showing a 0.2 percent decrease.
From January through May 2024, Azerbaijan exported 461 million
cubic meters of gas worth 252.3 million euros to Greece, as
compared to 488.7 million cubic meters worth 465.7 million euros in
the same period in 2023.
In 2023, the cumulative gas exports from Azerbaijan to Greece
reached almost 2 billion cubic meters, with a total value of 871.9
million euros.
Azerbaijan started 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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