In January, Azerbaijan exported natural gas at a price of about $500

The export of the declared volumes of Azerbaijan’s gas in January 2022 amounted to 1 billion 613 million 199.82 thousand cubic meters. This is by 44% more than in January 2021, the monthly report of the State Customs Committee of Azerbaijan.

Gas supplies in the reporting period accounted for 26.02% of Azerbaijan’s total exports (6.16% in January 2021).

The State Customs Committee reports that the cost of Azerbaijani gas exports in January this year amounted to $803 million 301.51 thousand, by 8 times more than was declared in January last year.

The Caspian Barrel carried out a calculation on the data of the Customs Committee of the Azerbaijan Republic, and found out that in January 2022, Azerbaijan exported its gas at an average price of $497.95 per 1,000 cubic meters.

Based on the reports of the Customs Committee it is impossible to determine how much Azerbaijani gas and to which countries is supplied.

It should be noted that the declared volumes of Azerbaijan’s gas by the Customs Committee never coincided with the actual volumes of supplies. Usually, in the reports of the Customs Committee, the declared volumes of gas were always significantly lower than the actual volumes of exports. However, at the end of 2021, the Customs Committee recorded the opposite – this time, the declared volumes of gas exceeded the actual volumes of gas. Thus, according to the data of the Ministry of Energy of Azerbaijan, by the end of 2021, 18.9 bcm of gas were supplied to foreign markets. In the report of the Customs Committee, the declared volumes of gas exports slightly exceeded 20 bcm.

Since the last day of 2020, Azerbaijan has been exporting gas to five countries: Georgia, Turkey, Greece, Bulgaria and Italy.

* According to the data of the State Oil Fund of Azerbaijan, in January 2022, the net profit of the state as part of the implementation of the Shah Deniz gas condensate project amounted to $149 million 899 thousand, while from the sale of gas – $127 million 727 thousand.

Ilham Shaban