2024-05-30 07:52:08
“LUYS” fund addresses the place and position of Azerbaijan within the European fuel market.
Azerbaijan entered the European fuel market instantly after the 44-day struggle, in 2020. in December, when the final part of the Southern Gasoline Hall, the Trans-Andriatic Gasoline Pipeline, was put into operation.
As of 2020, Azerbaijan’s confirmed pure fuel reserves are about 2.5 trillion m3 or 1.3% of the world’s confirmed reserves. In 2021, in comparison with 2011, fuel manufacturing in Azerbaijan doubled, making 31.8 billion m3, 2011-2021. Common annual progress of fuel manufacturing in Azerbaijan was 7.1%.
Final yr, Azerbaijan obtained $13.9 billion from the sale of oil, and $6.5 billion from the sale of fuel, however this yr the distinction has decreased much more. 2022 within the first quarter, Azerbaijan obtained $3.8 billion from the sale of oil, and $3.5 billion from the sale of pure fuel.
In keeping with the “British Petroleum” report, in 2021, the export of pure fuel from Azerbaijan by way of the pipeline amounted to 19.5 billion m3, of which 8.2 billion to the EU, 11.3 billion to Georgia and Turkey.
A major a part of the Azerbaijani vitality carriers exported to Europe is shipped to Italy. Baku is Italy’s largest provider of oil and the third largest provider of pure fuel.
In 2021, Azerbaijani fuel provided to the EU by way of the Southern Gasoline Hall made up solely 2% of EU consumption (about 400 billion m3).
Solely in 2022 in the course of the first half of the yr, the EU paid 4.9 billion euros for Azerbaijani fuel. The value of 1000 m3 of Azerbaijani fuel for Greece and Italy was greater than 1000 euros, for Bulgaria – round 900 euros.