BAKU, Azerbaijan, July 5. Gas deliveries from Azerbaijan via the Trans Adriatic Pipeline (TAP) surged by over 70 percent year-on-year in the first half of 2022, Trend reports with reference to the International Energy Agency (IEA).
“Russian gas supplies to Europe continued their sharp decline in the first half of 2022, further tightening the European gas and global LNG markets. Flexible LNG inflow to Europe hit an all-time high, offsetting the lower gas deliveries from Russia. Lower flows from Russia and declining domestic production were compensated by higher pipeline deliveries from alternative sources and record volumes of LNG inflow. Pipeline supplies from Norway rose by over 8 percent in the first half of 2022, while gas deliveries from Azerbaijan via the TAP pipeline surged by over 70 percent year-on-year. North African gas supplies declined by 15 percent due to the non-availability of the Maghreb–Europe pipeline and lower Libyan flows,” reads the IEA report.
IEA notes that LNG imports rose by 60 percent y-o-y to over 80 bcm in H1 2022 – their highest-ever level for this period of the year. The United States supplied 75 percent of incremental LNG, solidifying its position as Europe’s largest LNG supplier.
“Considering available capacities and assuming that Nord Stream flows will remain at 63 mcm/d, Russian piped gas flows are expected to fall by 40 percent y-o-y in 2022, largely compensated by higher LNG inflows, up by over 45 percent. The current forecast is subject to unusually large uncertainty, due to Russia’s unpredictable behavior,” says the agency.