EU Needs To Outline Support Mechanisms For Southern Gas Corridor - Deputy Minister

BAKU, Azerbaijan, November 21. The EU needs to define support mechanisms for the expansion of the Southern Gas Corridor (SGC), Elnur Soltanov, Deputy Minister of Energy of Azerbaijan, said in an interview with LGP News magazine, trend reports.

'Some important questions need to be clarified, such as how the EU can support the SGC by prioritizing it and creating additional regulatory provisions to accelerate the expansion process,' he said.

According to the DM, the financial incentives that can be created, and practical possibilities that can be used for rationalizing supply and demand also play significant roles in this process.

'Further expansion will also depend on a reliable network of connecting pipelines, a good example of which is currently the Interconnector Greece-Bulgaria (IGB),' Soltanov added.

Meanwhile, 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 EU.

The Sides agreed to support bilateral trade of natural gas, including through exports to the EU via the SGC, of at least 20 billion cubic meters of gas annually by 2027, in accordance with commercial viability and market demand.

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