In January-may 2020 Azerbaijan exported 92,14 million barrels of oil, which is 3.6 percent less than in the same period last year, reads the official statement of the Azerbaijani government. The total value of exported oil for the first 5 months of 2020 amounted to 3 billion 597 million us dollars or 41.8% less than the same period last year.
In 2020 over the same period, the export of natural gas from Azerbaijan to 5.68 billion cubic meters — 8 percent more than in the first 5 months of last year. The profit from gas exports also increased by 18.6 percent compared to the same period of 2019 to 1.23 billion dollars. The increase in export of blue fuel from Azerbaijan is particularly significant against the background of sharp reduction of export of the Russian giant Gazprom. Moreover, Gazprom is actually lost almost all Turkish gas market of Azerbaijan state gas company SOCAR, currently Baku exports gas only to Turkey and Georgia.
Given that last year Azerbaijan exported 229 million barrels of crude oil 14 billion $ 447 million and of 12.21 billion cubic meters of gas at 2.57 billion dollars, it’s safe to say that the country is already a major competitor of Russia on the European oil and gas market.
At the same time, the market of the Caspian States will grow with the commissioning of the entire gas pipeline TANAP, and with the launch of the Interconnector Greece-Bulgaria, through which Bulgaria should arrive 1 billion cubic meters of Azeri natural gas, than it was agreed more with the former President of Bulgaria Georgi Prvanov.