Baku: There is an opportunity for Azerbaijan to increase its share in the European Union (EU) gas market, APA-Economics reports, citing the report of Fitch Solutions, a company within the Fitch Group.

According to Azeri-Press News Agency, the company’s analysts emphasized that Azerbaijan’s role in gas trade could increase amid the European Union’s efforts to reduce its dependence on Russian gas.

The document notes that European countries have achieved energy diversification by boosting gas imports from alternative sources such as Norway and the United States. In this context, nearby producers with strong export potential-namely Azerbaijan and Egypt-are seen as having new opportunities to expand their share in the European gas market.

Azerbaijan currently exports natural gas to Europe via the Southern Gas Corridor, and efforts to expand the capacity of this corridor are ongoing.