Italy has significantly increased imports of natural gas from Azerbaijan“/>
Italy increased natural gas imports from Azerbaijan by almost 12 percent year on year.
As Day.Az reports, this was reported in response to a request from Trend in the statistical office of the European Union – Eurostat.
Italy imported over 832 million cubic meters of gas from Azerbaijan in July 2024, up from 743.2 million cubic meters in 2023.
In July 2024, the value of imports was 316.8 million euros, while in the same period last year it was 259.4
Million euros, which means an increase of more than 22 percent.
Gas production in Azerbaijan may exceed oil production – Rystad Energy
From January to July 2024, Italy imported 5.7 billion cubic meters of gas from Azerbaijan worth 1.96 billion euros, compared to 5.3 billion cubic meters worth over 3 billion euros in the same period last year.
In 2023, Italy imported a total of 9.3 billion cubic meters of gas from Azerbaijan worth 4.97 billion euros.
It should be noted that on December 31, 2020, Azerbaijan began transporting gas to Europe along the Southern Gas Corridor. This corridor ensures the transportation of gas from the Caspian Sea region to European countries, passing through Georgia and Turkey.
In July 2022, Azerbaijan and the European Union reached an agreement to double gas supplies through the Southern Gas Corridor from the current 10 billion cubic meters to 20 billion cubic meters by 2027.