Azerbaijan has plans to extend pure gasoline exports to Europe subsequent yr, based on the nation’s president, Ilham Aliyev.
“Export of gasoline [to Europe] reached 8.2 billion cubic meters final yr and 11.3 billion cubic meters this yr and is predicted to be about at the very least 11.6 billion cubic meters subsequent yr,” Aliyev stated, as quoted by Russia’s Interfax.
“It’s a win-win scenario, as a result of Europe must strengthen its power safety, and Azerbaijan wants a dependable market to promote the large quantity of its power sources,” the Azeri president additionally stated.
In complete, Azerbaijan goals to export 24 billion cubic meters of pure gasoline in 2023, with 11.6 billion cubic meters going to Europe.
Aliyev was talking at a gathering in Romania, the place Azerbaijan, Romania, Hungary, and Georgia sealed a deal for the development of a brand new energy connector from the Central Asian nation to Europe. On the identical gathering, Azerbaijan’s state oil and gasoline firm additionally inked offers for the availability of pure gasoline to Romania.
Europe is actively in search of new sources of pure gasoline amid its sanction campaign towards Russia to which Russia responded by lowering the circulation of gasoline to the continent, the place Russian gasoline till this yr accounted for 40 % of provide.
This yr, within the interval from January to November, Europe imported 10.3 billion cubic meters of Azeri gasoline. Turkey imported 7.6 billion cubic meters of Azeri gasoline, the Azeri power minister stated, with the nation’s gasoline exports within the first 11 months of the yr being 19 % increased than final yr’s.
Azerbaijan is one possibility for Europe to interchange Russian gasoline, however it will must significantly improve its manufacturing if it needs to make a distinction to the European Union’s power safety: Russia’s gasoline exports to the bloc final yr amounted to some 150 billion cubic meters.
By Irina Slav for Oilprice.com
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