Baku: Gas markets will remain tight in 2025 due to delays in some projects, APA-Economics reports citing French energy company TotalEnergies’s report. ‘Gas markets will remain tight in 2025 due to very limited expected capacities (powers – ed.) due to delays in some projects,’ the report states.

According to Azeri-Press News Agency, European gas prices increased at the end of 2024 and are expected to exceed $13 per million BTU (British thermal unit – British thermal unit, 27.9 cubic meters) in the first quarter of 2025. The reason for the price increase is the high level of winter consumption and the rapid decline in reserves in Europe in the context of the suspension of imports from Russia via Ukraine.

It should be noted that TotalEnergies has been operating in Azerbaijan since 1996, where it has a 35% stake in the Absheron gas and condensate field and a 5% stake in the Baku-Tbilisi-Ceyhan (BTC) pipeline.