Azerbaijan to step up gas exports to Europe next year

Azerbaijan plans to ramp up natural gas exports to the European Union next year, president Ilham Aliyev said on Saturday, as the bloc continues to seek out alternatives to supplies from Russia.

Azerbaijan will ship "at least" 11.6bn m³ natural gas to the bloc, Aliyev said, compared to 11.3bn m³ deliveries so far this year. Azerbaijan inked a preliminary deal with the bloc in July to double Azeri gas deliveries to at least 20bn m³/yr by 2027.

The country is also on course to meet European gas sales target of almost 11.5bn m³ for this year if December deliveries are stable from earlier in the fourth quarter, Azeri energy ministry data showed.

Azerbaijan produced about 4.1bn m³ of gas last month, slightly above the 4bn m³ recorded in October, according to the data

Azerbaijan's total gas export volume is poised to rise to about 24bn m³ next year, higher than the 19bn m³ exported in 2021, Aliyev added.

Last week, Paris-based energy watch dog IEA warned that 2023 would be "sterner test" for Europe's gas markets against the backdrop of sliding Russian supplies and a rebound in LNG demand from China, adding that the bloc could face a potential shortfall of around 30bn m³.

By Rithika Krishna