In January-August 2023, Azerbaijan increased exports of petroleum products by 64%

The closure of gas transit from Russia to the EU via the Ukrainian gas transportation system will reduce Europe's gas storage levels to 30-35% by April, Bloomberg reports. The agency believes that EU countries will either have to increase spending on gas purchases or face the depletion of underground gas storage.

The total volume of Azerbaijani gas transported via the TANAP pipeline to Türkiye and Europe reached 75 bcm. "To date, the total volume of gas transported through TANAP – a key link in the Southern Gas Corridor – since the start of supplies has amounted to 75 bcm," TANAP A.Ş.  reported yesterday.

Azerbaijan and Tatarstan held talks on energy cooperation. According to the Ministry of Energy of Azerbaijan, the discussions took place during a meeting between Azerbaijan's Minister of Energy Parviz Shahbazov and a delegation headed by Tatarstan’s Deputy Prime Minister and Minister of Industry and Trade Oleg Korobchenko.

Azerbaijan has significant potential in renewable energy and continues to invest in this area, the Chairman of the Milli Majlis (Parliament) Committee on Natural Resources, Energy, and Ecology, Sadig Gurbanov,  stated yesterday at the first plenary session of the spring session of parliament. According to him, the technical potential for renewable energy is estimated at 135 GW on land and 150 GW at sea.