2024-02-11 03:31:26
Italy’s spending on Azerbaijani gas increased significantly, reaching 619.2 million euros in November 2023, compared to 364.2 million euros in October.
As Day.Az reports, this was reported in response to a request from Trend at the statistical office of the European Union – Eurostat.
This represents month-on-month growth of more than 70 percent.
At the same time, gas imports fell from 881.2 million cubic meters in October to 838.2 million cubic meters in November, showing a decrease of 5.1 percent.
In the first 11 months of 2023, Italy’s total gas imports from Azerbaijan amounted to 8.5 billion cubic meters, equivalent to a value exceeding 4.6 billion euros.
It should be noted that Azerbaijan began transporting gas to Europe via the Southern Gas Corridor on December 31, 2020. It transports gas from the Caspian Sea region to European countries via Georgia and Turkey.
The project cost was 33 billion US dollars. It is expected that capital costs for the SGC will be fully recouped within 8-10 years.
In July 2022, Azerbaijan and the EU agreed to increase the volume of gas supplies via the SGC from the current 10 billion cubic meters to 20 billion cubic meters by 2027.
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