Recent Economic Developments regarding Azerbaijan

| News, Azerbaijan

Serbian President: "Serbia intends to buy gas from Azerbaijan in 2023"

Serbian President Aleksandar Vučić stated that Serbia intends to buy gas from Azerbaijan in 2023.

He stated that the country now has the most gas in the storage of any country in the world. In order to address supply problems anticipated in the upcoming months, the president also stated that Serbia's finances were strong enough to obtain alternatives to Russian energy. "Serbia was seeking fuel supplies wherever it could. We will be taking Iraq (oil). I will try to speak with Venezuela as well. We would take it from wherever. We are not squeamish," he said.

Azerbaijan increases profits from TRACECA

In the first six months of 2022, the profit from freight and passenger traffic along the Azerbaijani section of the Europe-Caucasus-Asia (TRACECA) transport corridor amounted to EUR 217 million. As reported on September 5, this is 25.3 percent, or EUR 43.9 million, more than in January-June 2021. 

"More than 347.62 million manats [206 million euros] (an increase of 24.7 percent) was received from cargo transportation along the Azerbaijani section of the TRACECA transport corridor, and more than 20.215 million manats [11.9 million euros] (an increase of 37.4 percent) from passenger transportation," TRACECA said. 

Cargo transportation along the Azerbaijani section of the Europe-Caucasus-Asia corridor in the first half of 2022 exceeded 24.253 million tons, which is 19.3% more than in the same period in 2021. Cargo transportation by road accounted for about 13.08 million tons or 53.9% of the total volume of cargo transportation; by rail - more than 7.9 million tons (32.6%); by the sea - 3.26 million tons (13.5%). Of the total volume of cargo transportation, transit cargo transportation accounted for more than 6.621 million tons (27.3%).

Azerbaijan increased gas exports abroad by 24 percent in the last seven months

According to operational data for January-July 2022, 27.3 billion cubic meters of natural gas were produced in Azerbaijan. 7.9 billion cubic meters of gas were produced from "Azeri-Chirag-Guneshli," 14.8 billion cubic meters from "Shah Deniz," and 4.6 billion cubic meters from SOCAR. Compared to the corresponding period of last year, gas was produced with an increase of 13.3 percent, i.e., 3.2 billion cubic meters, the Ministry of Energy of Azerbaijan reported.

"During the reporting period, gas sales abroad amounted to 12.9 billion cubic meters, 24 percent more than last year's corresponding period. Within seven months, 4.8 billion cubic meters of gas were sold to Turkey, 1.6 billion cubic meters to Georgia, and 6.5 billion cubic meters to Europe. It should be noted that during this period, about 3.2 billion cubic meters of gas was transported to Turkey with TANAP," the information said.

From the commissioning of "Azeri-Chirag-Guneshli" and "Shahdeniz" fields to August 1 of this year, nearly 198 billion cubic meters of gas were produced from "Azeri-Chirag-Guneshli" and more than 172.3 billion cubic meters from "Shahdeniz." "In this period, 119.5 billion cubic meters of gas produced from the Shah Deniz field was exported," the Ministry said.

Azerbaijan supplied petroleum coke to China via a bypass route

Within the cooperation framework between ADY Container and Azeraluminium LLC, green petroleum coke was exported from Azerbaijan to China by rail.

The cargo on the Ganja-Pingyuan route was delivered in fifty 40-foot containers. Following the Trans-Caspian International Transport Route (TITR), the wagons with containers were delivered from the Azerbaijani port of Alat to the Kazakh port of Aktau by the feeder vessel Barys and from there to East China. The project is being implemented in accordance with the memorandum on joint transportation signed between the Azerbaijani carrier ADY Container and Azeralium.

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