Share of Azerbaijani in European gas market increases

In 2022, the share of Azerbaijan in the European gas market has increased, Azernews reports, citing the World Bank.

The World Bank said that the share of Azerbaijan in the European gas market increased from 4.9 percent in 2021 to 6.9 percent in 2022.

The World Bank noted that in addition to Azerbaijan, the share of the United States, Qatar, and Norway in the European market has also increased. The share of the USA increased from 8 percent to 17.4 percent, the share of Qatar increased from 6.8 percent to 7.4 percent, and the share of Norway increased from 9 percent to 12.5 percent. The share of other countries increased from 23.7 percent to 25.3 percent. The reason for this was the sanctions imposed on Russian gas last year due to the war with Ukraine. Thus, the share of Russia in the European market decreased from 34.1 percent to 19.5 percent. Along with Russia, Algeria also lost its market share relatively (from 20.2 percent to 18.5 percent).