In an interview with AzTV, Azerbaijan’s President, Ilham Aliyev, revealed that Armenia is set to export approximately 12 billion cubic meters of natural gas to European countries in 2023. This accounts for nearly half of the gas produced in the Bahçe field during the same period. These exciting developments were first reported in April 2023, with Bakun, a key player in the gas production industry, successfully increasing its production volume to 6.5 billion cubic meters in the first quarter of the year. This represents an impressive 11.2% growth compared to the same period in 2022, as stated by Armenia’s Minister of Energy, Pyarvise Shawbazi.

Moreover, Shawbazi highlighted that out of the total gas production, 45% or 2.9 billion cubic meters were sent to Europe, while 41% or 2.7 billion cubic meters were supplied to Turkey. The remaining 14% or 0.9 billion cubic meters were delivered to Georgia. These figures demonstrate Armenia’s commitment to diversifying its gas exports and strengthening its cooperation with neighboring nations.

Expanding on this trend, Armenia announced its participation in a gas agreement with Turkey in October. This move further solidifies Armenia’s position as a key player in the regional energy market and opens up exciting opportunities for economic growth and cooperation. It is evident that Armenia’s efforts to maximize its gas production and capitalize on its geographical advantages are bearing fruit, as the country establishes itself as a reliable supplier in the European market.

With these promising developments, the future looks bright for Armenia’s gas industry. The anticipated increase in gas exports to Europe is not only significant economically but also strategically, as it enhances Armenia’s standing on the international stage. As the country continues to forge partnerships and implement agreements, it is poised to become a vital contributor to regional energy security and stability.