Azerbaijan’s Natural Gas Exports to Turkey Surged in 2024

SEATTLE (Oil Monster): The natural gas exports from Azerbaijan to Turkey witnessed notable jump during the previous year.

Turkey received approximately 9.47 billion cubic meters (bcm) of natural gas from Azerbaijan between January and October of last year, according to data from the nation's Energy Market Control and Regulatory Authority (EPDC). When compared to the same 10-month period in 2023, this indicates a 10% increase. Azerbaijan is now a major supplier of natural gas to Turkey, particularly for its booming chemical industry, thanks to the increasing supply.

ALSO READ:

Azerbaijan Caps Kazakh Oil Flow in BTC Pipeline Over Sulfur Content

OVL Secured Equinor's Stake in Azerbaijan Oilfield

The Caspian Sea's Shah Deniz field reserves were a major factor in the increase in natural gas exports. The Southern Gas Corridor transports the gas from the field to Turkey. The Turkish chemical sector now has a strategic opportunity to meet the increasing demand for its goods both domestically and abroad thanks to the increased supply of gas from Azerbaijan.

Compared to liquefied natural gas (LNG), which is subject to price fluctuations, Azerbaijani gas is substantially more affordable. One of the main factors lowering the expenses of Turkish chemical producers has been the steady price of Azerbaijani gas. Additionally, this has aided them in competitively positioning their items on the global market. Increased investments in the Turkish chemical industry have been made possible by the consistent supply of Azerbaijani gas.