President of Ukraine, Volodymyr Zelensky, has announced that the
contract with Gazprom for the transit of Russian gas through
Ukraine will not be renewed. He stated that this issue is resolved
for Ukraine, but the country will continue to transit gas produced
by other Russian exporters.
According to information published by Bloomberg, if an
unexpected situation arises concerning gas transit, Europe’s
current gas reserves may not be sufficient for the winter season.
Additionally, Europe’s reserve of compressed gas is limited. This
summer, imports of this type of gas to the region decreased by
15-20 percent because Asian countries secured it at more favorable
prices.
The contract between Gazprom and Ukraine for natural gas transit
expires at the end of this year. This raises the question: how will
Europe meet its gas needs?
One solution could be Azerbaijan’s gas exports, which bridge
Europe and Asia. Azerbaijan transports gas to Europe through the
Southern Gas Corridor. The Trans-Adriatic Pipeline (TAP), part of
this corridor, now has a transmission capacity of 12 billion cubic
meters per year. From January to June this year, Azerbaijan
exported 6.4 billion cubic meters of natural gas to Europe, an
increase of 0.7 billion cubic meters, or 12.3%, compared to the
same period in 2023.
Overall, Azerbaijan’s gas exports for the first half of the year
totaled 12.7 billion cubic meters, marking a 6% increase from the
previous year. During this period, Azerbaijan sold 5 billion cubic
meters of gas to Turkiye and 1.3 billion cubic meters to Georgia,
with exports to both countries remaining stable compared to last
year.
Approximately 2.8 billion cubic meters of gas were transported
to Turkiye via the Trans-Anatolian Pipeline (TANAP), maintaining
the same level as the previous year.
The TAP, completed in October 2020, stretches 878 kilometers,
with 550 kilometers through northern Greece, 215 kilometers through
Albania, 105 kilometers under the Adriatic Sea, and 8 kilometers in
Italy. Azerbaijani gas began reaching consumers in Italy, Greece,
and Bulgaria on December 31, 2020.
Natural gas from Azerbaijan’s Shah Deniz field is transported to
Turkiye through the South Caucasus Pipeline (Baku-Tbilisi-Erzurum)
and TANAP. Commercial transportation to Turkiye via TANAP started
on June 30, 2018.
Azerbaijan, with its rich energy resources, plans to
significantly boost gas exports to Europe in the coming years. As a
key player in the European energy market, Azerbaijan aims to
enhance its role in the continent’s energy security. By
prioritizing natural gas exports and increasing the use of solar
and wind energy for electricity production, Azerbaijan is
strengthening its long-term economic ties with Europe. The
“Memorandum of Understanding on Strategic Partnership in the Field
of Energy between the European Union and the Republic of
Azerbaijan,” signed last year, lays the foundation for robust
cooperation in energy, addressing the EU’s demand for natural gas
and energy security.
In conclusion, as the contract between Ukraine and Gazprom for
Russian gas transit nears expiration, Europe’s energy landscape
faces uncertainty. Azerbaijan emerges as a crucial player,
significantly increasing its gas exports to Europe through the
Southern Gas Corridor. With TAP and TANAP infrastructure in place,
Azerbaijan not only bolsters Europe’s energy security but also
strengthens its role as a key energy supplier. The country’s
commitment to expanding gas exports and investing in renewable
energy underscores its strategic importance in the European energy
market. The recent Memorandum of Understanding between Azerbaijan
and the European Union further solidifies this partnership, paving
the way for enhanced cooperation and long-term energy stability for
Europe.
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Publish date : 2024-08-27 21:35:00
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