Azerbaijan´s Energy Minister Parviz Shahbazov and Greek ambassador Nikolaos Piperigkos have discussed bilateral energy cooperation, Azernews reported.
At the meeting, Shahbazov stressed bilateral cooperation as part of the global energy project – the Southern Gas Corridor.
Moreover, Greece’s participation in all sessions of the Southern Gas Corridor Advisory Council was highly appreciated.
In the 1st 9 months of the year, Azerbaijan exported 4.6 billion m3 of natural gas worth $1.4 billion to Europe.
Of the total volume of exported natural gas, 501.7 million m3 of natural gas worth $163.7 million were exported to Greece.
The trade volume between the Azerbaijan and Greece totaled $536.9 million in 2020.
Greece is heavily dependent on natural gas, which continues to support the country’s power production at a growing rate, while the fuel’s share in the area of industrial and domestic consumption is also expanding.
Greece is set to play a bigger role in the regional gas market in the coming years, with the country set to become a gateway for LNG supplies into Southeast Europe with both the 7 Bcm/year Revithoussa import terminal and the planned 5.5 Bcm/year FSRU at Alexandroupolis expected to serve the wider regional market.