Greece Reduces Spending On Azerbaijani Gas Imports
Date
8/10/2024 5:18:42 AM
(MENAFN- AzerNews)
Greece reduced its expenditure on natural gas imports from
Azerbaijan in May 2024, Azernews reports, citing
Eurostat, the statistical office of the European Union.
In May 2024, Greece's spending on Azerbaijani gas imports was
52.6 million euros, down from 68.8 million euros in May 2023,
marking a 23.5 percent decrease.
During the same period, Greece imported nearly 94 million cubic
meters of Natural gas from Azerbaijan, compared to 94.2 million
cubic meters in May 2023, reflecting a 0.2 percent decline.
From January to May 2024, Azerbaijan exported 461 million cubic
meters of gas to Greece, valued at 252.3 million euros. This is a
reduction from the 488.7 million cubic meters worth 465.7 million
euros exported in the same months of 2023.
In 2023, total Azerbaijani gas exports to Greece amounted to
nearly 2 billion cubic meters, with a value of 871.9 million
euros.
Azerbaijan commenced gas deliveries to Europe through the
Southern Gas Corridor on December 31, 2020. This corridor
transports gas from the Caspian Sea region to European nations via
Georgia and Türkiye, with a project cost of 33 billion US dollars.
It is anticipated that the capital costs for the Southern Gas
Corridor will be recovered within 8 to 10 years.
In July 2022, Azerbaijan and the EU agreed to double the gas
supply through the Southern Gas Corridor from 10 billion cubic
meters to 20 billion cubic meters by 2027.
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