Aliyev: Azerbaijan to double gas exports to Europe in 2027

Azerbaijani President Ilham Aliyev has rejected accusations that the republic is re-exporting Russian gas. "You have probably heard that Azerbaijan has again been accused of reselling Russian gas to Europe. And this is another completely fake news. I will give just one example: yes, we contracted 1 bcm of gas from Russia when the price on international markets was very high, the price of Russian gas was affordable. It was a purely commercial transaction, nothing more. We export 25 bcm and import only 1 bcm. So, the accusations that we are a kind of channel for the export of Russian gas are absolutely unfair. It was an absolute lie," he said in Shusha at the Second Shusha Global Media Forum on the topic "Exposing false Narratives: Fighting disinformation."

Aliyev said that gas production in Azerbaijan in 2024 will amount to 50 bcm. "This year we expect gas production at the level of 50 bcm. Some of this gas will be re-injected into the reservoirs to increase oil production. The other part will be directed to domestic consumption, the rest will be exported," he said in Shusha at the Second Shusha Global Media Forum on the topic "Exposing false narratives: fighting disinformation."

Today Europe is in dire need of our natural gas, Azerbaijani President Ilham Aliyev at the Second Shusha Global Media Forum on the topic "Exposing false narratives: fighting disinformation." Noting that it is important to put an end to hypocrisy in this matter, the head of state said: "On the one hand, Europe is asking us to increase production and transport gas to Europe, as it seriously needs it. On the other hand, they don't finance it."

The Indian company ONGC “Videsh Limited” has signed a final agreement with the Norwegian Equinor on the purchase and sale of 0.615% of equity participation in the Azeri-Chirag-Guneshli project and the acquisition of 0.737% of shares in the BTC Co pipeline company, which is the operator of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, the official message of the Indian company. It notes that the total investment in these transactions will amount to $60 million. The deal will be completed in the coming months.