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Azerbaijan’s share in European gas market increased: World Bank

28 April 2023 11:41 (UTC +04:00)

In 2022, Azerbaijan’s share in the European gas market increased, said the report of the World Bank, APA-Economics reports.

According to the information, Azerbaijan’s share in the European gas market increased from 4,9% in 2022 to 6,9% in 2022.

The bank noted that alongside Azerbaijan, shares of the US, Qatar, and Norway also increased in the European market. The share of the US increased from 8% to 17.4%, the share of Qatar increased from 6.8% to 7.4%, and the share of Norway increased from 9% to 12.5%. The share of other countries increased from 23,7% to 25,3%. The reason for it was the sanctions applied on Russian gas due to the war in Ukraine last year. Thus, Russia’s share in the European market decreased from 34,1% to 19,5%. Alongside Russia, Algeria also relatively lost its market share.