(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 27. EU expects an
increase in Azerbaijani gas supplies this year, said EU
Commissioner for energy Kadri Simson, speaking at the press
conference of the Extraordinary Energy Council July 26, Trend reports via the
European Commission.
She recalled her visit to Azerbaijan last week with President of
the European Commission Ursula von den Leyen.
“The President and I were in Azerbaijan just last week, where we
agreed to more than double the gas volumes to the EU by 2027. And
we expect to see an increase of 4 bcm extra already this year,”
said Simson.
The commissioner went on to add that EU also has agreements in
place with the US, Canada, Norway, Egypt and Israel, a
long-standing partnership with Qatar and deepening cooperation with
Algeria.
“In addition, we are exploring the options to increase LNG
imports from Nigeria. The country is already the fourth-biggest
exporter to the EU, but has potential to contribute even more. All
the five regional groups within the EU Energy Platform have been
launched and are looking into demand aggregation and coordinated
use of infrastructure. And we are of course exploring the best
legal and practical form for our joint purchase mechanism,” added
Simson.
On July 18, 2022, a“Memorandum of Understanding on Strategic
Partnership in the field of energy between the European Union
represented by the European Commission and the Republic of
Azerbaijan' was signed between Azerbaijan and the European
Union.
The Sides agreed to support bilateral trade of natural gas,
including through exports to the European Union, via the Southern
Gas Corridor, of at least 20 billion cubic meters of gas annually
by 2027, in accordance with commercial viability and market
demand.
According to the document, any further exports of natural gas to
the European Union beyond those that are being delivered to date
will require significant investments in the expansion of the
Southern Gas Corridor pipeline network and the upstream project
development.
Moreover, the EU and Azerbaijan will encourage financing of the
expansion of the Southern Gas Corridor pipeline network taking into
consideration the EU's climate policies and its REPowerEU strategy,
including through cooperation with international financial
institutions.
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