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Greece increases spending on Azerbaijani gas imports

Baku. TurkicWorld:

In October 2023, Greece saw an increase in the volume and costs of natural gas imported from Azerbaijan, Eurostat, the European Union's statistical office, told TurkicWorld.

Greece imported 161.8 million cubic meters of natural gas from Azerbaijan, compared to 157.3 million cubic meters in September, indicating a 2.9 percent rise in import volume.

Over the first ten months of 2023, the cumulative gas exports from Azerbaijan to Greece reached almost 1.7 billion cubic meters, with a total value of 744.5 million euros. In October alone, Greece spent 57.7 million euros on gas imports from Azerbaijan, up from 55.2 million euros in September, representing a 4.5 percent increase.

Azerbaijan initiated gas transportation to Europe through the Southern Gas Corridor on December 31, 2020. The Southern Gas Corridor transports gas from the Caspian Sea region to European countries via Georgia and Türkiye, with a project cost of 33 billion US dollars. It is expected that the capital costs for the Southern Gas Corridor will be fully recouped within 8–10 years.

In July 2022, Azerbaijan and the EU reached an agreement to double the volume of gas supplies via the Southern Gas Corridor from the current 10 billion cubic meters to 20 billion cubic meters by 2027.

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