Azerbaijan raises first-half natural gas exports to 12.431 billion cubic metres

Export volume rises as revenue declines

Azerbaijan exported 12.431 billion cubic metres of natural gas in gaseous form during the January-June reporting period, according to calculations by Trend based on data from the State Customs Committee of Azerbaijan. The shipments were valued at $4.105 billion, making gas a substantial component of the country’s merchandise exports during the first half.

Compared with the same period a year earlier, export volume increased by 66 million cubic metres, or 0.5%. Export value, however, declined by $437 million, or 9.6%. The divergence indicates that the average value recorded per exported cubic metre was lower, even as Azerbaijan delivered slightly more gas to foreign customers. The source data do not provide a destination-level breakdown or explain whether the decline reflected contract pricing, market prices or changes in the buyer mix.

Gas remains central to Azerbaijan’s trade balance

Azerbaijan’s total foreign trade turnover reached $24.661 billion in January-June, the State Customs Committee data showed. Trend calculated that this was $261 million, or 1.1%, above the corresponding period a year earlier. Exports accounted for $16.32 billion of the total, while imports amounted to $8.341 billion.

The customs figures also showed a marked shift between the two sides of the trade account. The reported value of exports increased by $3.442 billion, or 26.7%, while imports declined by $3.181 billion, or 27.6%. Natural gas therefore continued to support a sizeable export position, although its own revenue moved in the opposite direction from its physical volume. For producers, traders and state revenue planners, that distinction matters: additional throughput does not necessarily translate into higher receipts when the unit value falls.

European capacity is set to expand

European buyers currently take approximately half of Azerbaijan’s gas exports, EU Commissioner for Energy and Housing Dan Jørgensen told Trend in an interview. That share makes European demand and pipeline availability important to Azerbaijan’s export outlook, while also giving regional buyers another supply source.

Jørgensen said the first expansion of the Trans Adriatic Pipeline was completed in January, adding annual capacity of 1.2 billion cubic metres. He said this would enable additional deliveries to the European market in 2026. The pipeline is the European section of the Southern Gas Corridor and carries Azerbaijani gas toward Italy, Greece and Bulgaria. According to the commissioner, exports through the Trans Adriatic Pipeline to those three markets generated approximately €24 billion in revenue from the start of commercial deliveries through 2024. The added capacity creates room for higher flows, but the first-half customs results show that future earnings will depend on both physical deliveries and the value achieved for each unit of gas.