Name: Can Azerbaijan double gas exports to Europe?
Brand: Wood Mackenzie
SKU: 186132
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Author: Wood Mackenzie

Insight 24 October 2024

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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In 2022, as Europe raced to wean itself off Russian gas, Azerbaijan signed a landmark Memorandum of Understanding (MoU) with the EU to double exports to 20 bcma by 2027. Two years on, this ambition is already out of sight. Why? Azerbaijan hasn’t moved quickly enough to grasp the opportunity. Much has changed since the dizzying heights that prices reached in 2022. But the EU is still pushing to diversify its gas supply, and Azerbaijan remains home to vast untapped gas resources. The upstream and midstream expansion required is beset by commercial and market challenges. Can Azerbaijan overcome these obstacles and fulfil its long-term ambition of becoming a gas supplier of choice to the lucrative European market?</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Why is Azerbaijan targeting more exports to Europe?
    </li>

<li class="list__item-toggle font-semibold">
        Does Azerbaijan have capacity to boost exports?
    </li>

<li class="list__item-toggle font-semibold">
        Which gas projects could help increase Azerbaijani exports to Europe?
    </li>

<li class="list__item-toggle font-semibold">
        Midstream expansion is also required for additional access to market and lower transport tariffs
    </li>

<li class="list__item-toggle font-semibold">
        Can Azerbaijani volumes compete with other sources of supply?
    </li>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Discovered resources by product type</li><li class="list__item push-quarter--bottom">Annual contract quantity (ACQ) and gas demand covered by Azerbaijani gas by destination market</li><li class="list__item push-quarter--bottom">Azerbaijan production and exports (base case)</li>
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        <ul class="list list--bullets panel-toggle" id="53bddd7527c54b3b852e37ee687708ba">
            <li class="list__item push-quarter--bottom">Azerbaijan has a promising cohort of gas-led DROs</li><li class="list__item push-quarter--bottom">Azerbaijan gas production profile*</li><li class="list__item push-quarter--bottom">Breakeven prices of key pre-FID developments</li><li class="list__item push-quarter--bottom">The Southern Gas Corridor (SGC) pipeline value chain comprises three pipelines</li><li class="list__item push-quarter--bottom">Pipeline expansion scenarios</li><li class="list__item push-quarter--bottom">We have calculated indicative transportation tariffs under various expansion scenarios</li><li class="list__item push-quarter--bottom">Piped gas and LNG costs delivered to Europe (incl. regas)*</li>
        </ul>
        
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<p class="font-regular" >Can Azerbaijan double gas exports to Europe?</p>
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