Azerbaijan increased natural gas imports from Turkmenistan 2.4-fold

11:36 - 18.04.2024

April 18, Fineko/ Azerbaijan increased purchases of natural gas imported from Turkmenistan in the form of swaps by 2.4% in the first two months of the year compared with the previous year.

ABC.AZ reports that the volume of swap gas from Turkmenistan in January and February 2024 amounted to 208.87 million cu m, of which imports amounted to $31.33 million.

This year, Azerbaijan has raised import prices for natural gas for Turkmenistan. For example, if at the beginning of 2023 Azerbaijan paid $140 for every 1,000 cu m from Central Asian countries, this year prices were raised to $150.

This is $219 or 59% lower than the natural gas that Azerbaijan sells to the West. So, this year Azerbaijan sold 1,000 cu m of natural gas abroad at price of $369. Until 2024, Turkmen gas supplies to Azerbaijan are carried out through a swap through Iran. In accordance with the trilateral swap agreement signed on November 28, 2021 in Ashgabat, it is planned to increase the supply of Turkmen gas to 1.5-2 bcm a year, followed by an increase in these volumes to 3-4 bcm.

In 2023, Azerbaijan purchased 1.517 bcm of natural gas from Turkmenistan, the import value of which amounted to $218.23.