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The prices of the European Union (EU) nations for the acquisition of fuel from Azerbaijan by means of the Trans-Adriatic fuel pipeline (TAP) within the first quarter of 2022 have been estimated at 2.1 billion euros. Such information are given within the quarterly report of the European Fee (EC) on the state of affairs within the European fuel market, Interfax stories.
In whole, within the first months of 2022, the EU spent about 78 billion euros on fuel imports, of which 26.5 billion euros got here from fuel from Russia, 19.2 billion euros from Norway, 5.4 billion euros from Northern Africa (Algeria and Libya), 2.1 billion euros – underneath TAP. Within the type of LNG, the EU imported fuel within the first quarter of 2022 within the quantity of about 33 billion euros.
The EC famous a rise in provides from Azerbaijan over the yr: roughly 24 TWh within the first quarter of 2022 towards 10 TWh in the identical interval final yr.
In response to the report, within the first quarter of this yr, the share of fuel provides through TAP amounted to 2.5% of whole provides towards 1.2% a yr earlier.
TAP supplies entry to Azerbaijani fuel assets by means of the Southern Gasoline Hall (SGC), which is a crucial results of the EU’s fuel provide safety coverage, the EC famous.
The research notes the competitiveness of Azerbaijani fuel, which the authors of the report related to long-term contracts, the fuel worth for which is decrease than spot costs.
Azerbaijani fuel provides through the TAP fuel pipeline to shoppers in Italy, Greece and Bulgaria started on December 31, 2020.
In 2021, Azerbaijan exported 8.2 billion cubic meters of fuel to Europe, within the first quarter of 2022 – 2.6 billion cubic meters of fuel. In 2022, fuel exports to Europe are forecast to exceed 10 billion cubic meters.
The overall size of TAP is 878 km, of which 550 km passes by means of the northern a part of Greece, 215 km by means of the territory of Albania, 105 km by means of the Adriatic Sea and eight km by means of the territory of Italy. TAP is the final part of the SGC mission – infrastructure for the provision of Azerbaijani fuel to Europe.
The fuel pipeline is designed to move 10 billion cubic meters of pure fuel per yr from the Shah Deniz discipline as a part of Stage 2 of its growth to Europe. The throughput capability of the fuel pipeline makes it doable to double its capability – as much as 20 billion cubic meters per yr.
Challenge co-owners: SOCAR (20%), BP (20%), Snam (20%), Fluxys (19%), Enagas (16%) and Axpo (5%). The price of the mission is 4.5 billion euros. The groundbreaking for TAP happened on 17 Could 2016 in Greece.
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