NATURAL GAS

Greece has significantly increased its gas imports from Azerbaijan, Eurostat, the statistical office of the European Union, told Trend.

June saw a notable surge in imports, with 174.6 million cubic meters received, compared to 163 million cubic meters in May, marking a 7.1 percent month-on-month increase.

Greece imported a total of 1.020 billion cubic meters of gas from Azerbaijan between January and June 2023.

Within the framework of cooperation between SOCAR and "DeGolyer and MacNaughton", work on counting 27 fields according to SPE-PRMS classification in the Azerbaijani sector of the Caspian Sea has started, Trend reports.

According to the State Oil Company of Azerbaijan Republic (SOCAR), a meeting was held between SOCAR President Rovshan Najaf and Chairman and CEO of DeGolyer and MacNaughton John W. Wallace.

Energy cooperation between Hungary and Azerbaijan is entering new dimension, Minister of Foreign Affairs and Foreign Economic Relations of Hungary Peter Szijjarto said, Trend reports.

He stressed that there is a political will to bring gas supplies from Azerbaijan to Hungary to 1 billion cubic meters.(

Türkiye will export natural gas to Hungary, Türkiye's Energy and Natural Resources Minister Alparslan Bayraktar wrote about it in his official social media account, Trend reports. (https://publish.twitter.com/?query=https%3A%2F%2Ftwitter.com%2FaBayraktar1%2Fstatus%2F1693352279514980488&widget=Tweet ).

In January-June 2023, the export of customs-declared volumes of natural gas from Azerbaijan amounted to 10,956,188.04 thousand cubic meters, which is 3.6% less than a year earlier, despite a tripling of the supply volume for Bulgaria, announced the State Customs Committee of the country (SCC).

Revenues from the export of declared gas from Azerbaijan amounted to 8,029,188.03 thousand US dollars (7.9% growth).

Azerbaijan has consistently shown its willingness to boost gas supplies and provide assistance to Europe during times of crisis. Through President Ilham Aliyev's well-defined energy strategy, the country has established itself as a dependable and trustworthy energy partner for Europe. The EU countries are progressively reinforcing their energy alliances with Azerbaijan and actively endorsing all related initiatives.

If Turkmenistan does not act before the EU lines up alternate sources of gas, the Trans-Caspian Pipeline project will become unviable, Allan Mustard, co-founder and co-head of the Trans-Caspian Resources energy startup, Former US Ambassador to Turkmenistan, told Trend.

Taking into account the reserves at the beginning of this year, the volume of commercial production of natural gas in the country in January-June 2023 amounts to 18,177.8 million cubic meters (18,177,800,000 m³).

The State Statistics Committee of Azerbaijan reported to Trend on Tuesday that 29.9% of this volume was used in the country, 56.5% was exported, and 12.1% remained as a reserve at the beginning of July.

Azerbaijan State Oil Company (SOCAR) and Uzbekneftegaz JSC, state-owned holding company of Uzbekistan's oil and gas industry, have discussed the creation of a joint venture for gas trading, Trend reports via Uzbekneftegaz.

The issue was discussed at the meeting between management of Uzbekneftegaz and the delegation headed by President of SOCAR Rovshan Najaf.

Azerbaijani Minister of Energy Parviz Shahbazov and Deputy Prime Minister of Albania, Minister of Infrastructure and Energy Belinda Balluku discussed the development of the Trans Adriatic Pipeline (TAP) project, Azerbaijani minister wrote on Twitter, Trend reports.

Shazbazov noted that the parties also touched upon the issues of Albania's gas supply.