Azerbaijan's earnings from natural gas lowered by 51 %

12:14 - 14.06.2024

June 14, Fineko/ Azerbaijan's income from natural gas exports in 5 months of 2024 were 51% less against Jan-May 2023.

ABC.AZ reports, referring to the State Customs Committee, that for the past 5 months of 2024, country’s natural gas exports amounted to 9.913 bcm, and foreign exchange income from it - $3.45 bn.

The drop in revenues from natural gas has a share of a 16% decrease in exports compared with last year, but the key factor is a 43% drop in the price of exported gas against 2023.

For Jan-May 2023, the cost of 1,000 cu m of exported natural gas was about $614, and for 5 months of 2024, the price of 1,000 cu m - $348.