Biden: Azerbaijan Plays Critical Role In Stabilizing European Energy Security

(MENAFN- AzerNews)

Azerbaijan is playing a critical role in helping stabilize European energy security, Azernews reports with reference to the letter from U.S. President Joe Biden to the Baku Energy Week participants.

The letter was read out by Deputy Assistant Secretary for Bureau of Energy Resources at U.S. Department of State Laura Lochman at the opening ceremony of the Baku Energy Week on June 1.

In his letter, the president emphasized that during the 30-year-long diplomatic relations, the U.S. and Azerbaijan became strong partners in combatting transitional threats, advancing energy security, and encouraging bilateral trade and investment.

'As you host the International Oil and Gas Exhibition in Baku, I want to assure you that Azerbaijan continues to have a committed partner in the U.S.,' the letter reads.

We are making important investments and changes to meet our longer-term commitments to clean energy transition, the president added.

Stressing that diversification is more important than ever in addressing energy security goals, Biden underlined that Azerbaijan has played a central role in regional efforts toward this goal.

'Azerbaijan is also critical to realizing the immense potential of trans-Caspian cooperation to help stabilize markets in the region and globally. Azerbaijan is playing a critical role in helping stabilize European energy security, including through the Southern Gas Corridor,' the letter reads.

Azerbaijan strong partner in advancing energy security across region

Moreover, speaking at the opening ceremony, Laura Lochman also emphasized that Azerbaijan has been a strong partner in advancing energy security across the region. She recalled that the two countries have recently celebrated the 30th anniversary of the establishment of diplomatic relations.

'Our countries have long enjoyed the close partnership and there is no greater supporter of independence and democracy in the South Caucasus than the U.S.,' she said.

Lochman added that the U.S. looks forward to continuing to work with Azerbaijan on strategies to develop a reliable energy source that also supports critical climate goals.

Southern Gas Corridor expansion to diversify gas supply to Europe

UK Business, Energy and Clean Growth Minister Gregory William Hands stated that the expansion of the Southern Gas Corridor would support the diversification of gas supply to Europe.

'It is an important time for energy security. Today Azerbaijan is a reliable and state supplier of natural gas,' he added.

The minister added that natural gas will play important role in the transition to clean energy.

'We welcome the commitment made by our partners, including Azerbaijan in this regard. UK company BP which has been very active in Azerbaijan has an ambitious plan to reach net-zero by 2025,' he said.

Azerbaijan key in diversification of gas supplies to EU

Moreover, Head of Energy Policy – Directorate-General for Energy at European Union Cristina Lobillo Borrero stated that Azerbaijan plays a key role in the efforts to diversify the supplies of gas in the European Union.

The official emphasized that the energy markets are going through several challenges, such as the COVID-19 pandemic and rising energy prices.

'The Southern Gas Corridor has been essential for the EU and the role that Azerbaijan plays is key in our efforts to diversify the supplies of gas in the EU. This has been essential to energy price stability and also to ensure the security of supply. We very much value that,' she said.

Borrero added that energy relations with Azerbaijan are built on the positive track record of energy dialogue.

'EU Commissioner for Energy Kadri Simson attended the Southern Gas Corridor Advisory Council's meeting in Baku in February. We continue our high-level dialogue on gas, renewables, electricity, energy efficiency, and hydrogen,” she said.

---

Follow us on Twitter @AzerNewsAz

MENAFN01062022000195011045ID1104305730