ATHENS: Greece’s expenditure on Azerbaijani gas imports rose to £57.4 million in July 2024, compared to £55.7 million in July 2023, marking a 3 percent year-on-year increase. However, the overall spending from January to July 2024 showed a significant decline, totaling £362 million, down 37.5 percent from £579.5 million during the same period in 2023.

According to Trend News Agency, Greece’s import volumes also saw a decrease. In July 2024, Greece imported 162.8 million cubic meters of gas from Azerbaijan, an 8.64 percent decline from the 178.2 million cubic meters imported in July 2023. For the first seven months of 2024, the country imported 1.12 billion cubic meters, a decline of 8.3 percent from the 1.2 billion cubic meters recorded in the same timeframe the previous year.

Azerbaijan began supplying gas to Europe through the Southern Gas Corridor on December 31, 2020. In July 2022, an agreement was reached between Azerbaijan and the European Union to double the corridor’s capacity from 10 billion cubic
meters to 20 billion cubic meters by 2027.