Azerbaijan, Italy boost energy partnership with increased gas exports

Azerbaijan is set to export 9.6 billion cubic meters of gas to Italy this year, according to a statement from the Ministry of Energy.

Energy Minister Perviz Shahbazov shared this information during a meeting with Italian Minister of Environment and Energy Security Gilberto Pichetto-Fratin while on a visit to Brazil, the Azerbaijani Energy Ministry told Caliber.Az.

The two officials discussed the strengthening of energy ties, highlighting the collaboration between the State Oil Company of Azerbaijan (SOCAR) and Eni S.P.A., the expansion of the Trans Adriatic Pipeline, and CESI's involvement in the feasibility study for the Caspian-Black Sea-Europe corridor. They also explored opportunities for increasing renewable energy supplies.

Italy remains the largest buyer of Azerbaijani gas, having received shipments through TAP since December 2020. Minister Shahbazov invited his Italian counterpart to participate in the Energy Day during COP29.

Natural gas supplies from Azerbaijan to Italy via the Trans Adriatic Pipeline (TAP) from January to July 2024 amounted to 6.075 billion cubic meters, marking a 6.4% increase compared to the same period last year, as reported by the Italian Ministry of Environment and Energy Security. During the first seven months of this year, Italy imported a total of 35.273 billion cubic meters of natural gas, a 4.3% decrease from a year earlier, with Azerbaijani gas accounting for 17.2% of that total.

In July alone, Azerbaijani gas supplies to Italy reached 905 million cubic meters, reflecting a 12.2% increase compared to July of the previous year. This amount represented 21.5% of Italy's total natural gas imports for that month, estimated at 4.201 billion cubic meters—a slight decline of 1.8%.

It's noteworthy that Baku emerged as Rome's largest oil supplier in 2023, exporting 11.3 million tons of oil to Italy — a 25% increase compared to 2022. In 2023, Italy received 9.988 billion cubic meters of gas from Azerbaijan via TAP, down 3.2% from the previous year. Azerbaijan began gas exports to Europe on December 31, 2022.

By Tamilla Hasanova