Azerbaijani Gas To Play Crucial Role For Central Europe's Energy Security - Peter Szijarto
(MENAFN- Trend News Agency) BAKU, Azerbaijan, Feb.3. With the increasing
natural gas production Azerbaijan can play a crucial role for the
energy security of Hungary and Central Europe, said Minister of
Foreign Affairs and Trade of Hungary Peter Szijarto.
He was addressing the ministerial meeting of the Southern Gas
Corridor Advisory Council held in Baku Feb.3.
“Azerbaijan is becoming more and more important for Europe amid
the energy crisis. Increasing the gas production in South Caucasus
is the best option for diversification in the short and mid-term
perspective. With the increasing natural gas production Azerbaijan
can play a crucial role for the energy security of Hungary and
Central Europe. But this requires infrastructure development in the
region with the support of EU,” he said.
Szijarto said Budapest hopes that Azerbaijani gas supplies to
Hungary will start in the shoterst time, thereby contributing to
the country's energy security.
Southern Gas Corridor started transportation of Azerbaijani gas
to Europe on December 31, 2020. It transports of gas from the
Caspian Sea region to European countries through Georgia and
Türkiye.
This large-scale project is aimed at diversification of energy
supply routes and sources, thereby contributing to strengthening
Europe's energy security. The project's cost totaled $33 billion,
as compared to the forecast $45 billion. Capital expenditures on
the SGC project are expected to be fully reimbursed within 8-10
years.
Azerbaijan's export of natural gas to European Union market will
stand at 11.6 billion cubic meters as of 2023. Total export of
natural gas from Azerbaijan this year will be almost 24.5 billion
cubic meters.
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