Iran Launched Two New Transnational Gas Pipelines

The average price of Azeri Light crude oil based on CIF contracts decreased by $3.45 (4.39%) compared to the previous week, settling at $75.23 per barrel. The highest price during this period was $76.77 per barrel, while the lowest was $73.53 per barrel.

The scheduled infrastructure work for the Trans Adriatic Pipeline (TAP) on September 19 will not lead to a reduction in gas supplies through this pipeline. According to TAP AG, the infrastructure work will take place from September 19 to September 30 at the Kipoi interconnection point (IP) on the Greece-Türkiye border, where TAP connects with the Trans Anatolian Pipeline (TANAP).

The US Energy Information Administration (EIA) has lowered its forecast for oil production in Azerbaijan for 2024 by 10,000 barrels per day, the September issue of the Short-Term Energy Outlook by the EIA.

The Azerbaijani Ministry of Energy and the European Bank for Reconstruction and Development (EBRD) have discussed projects for green energy corridors "Caspian-Black Sea-Europe" and "Azerbaijan-Central Asia-Europe".