(MENAFN- AzerNews)
Ulviyya Shahin
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Italy has emerged as the leading European buyer of Azerbaijani
gas, marking a notable development evident in quarterly reports
since the beginning of 2024.
During a meeting in Milan between Minister Parviz Shahbazov and
Italian Minister of Environment and energy Security Gilberto
Picetto Fratini, it was announced that Azerbaijan plans to supply
Italy with 9.6 billion cubic meters of gas this year.
The discussions encompassed broad cooperation in the energy
sector, including topics addressed at the 29th session of the
Conference of the Parties to the UN Framework Convention on Climate
Change (COP29) and Italy's leadership in the G7. Both parties
expressed satisfaction with the robust and strategic partnership
between Azerbaijan and Italy, emphasizing the growth of cooperative
relations.
The meeting underscored President Ilham Aliyev's commitment to
advancing Azerbaijan's ties with Italy, highlighting Italy's status
as Azerbaijan's primary trading partner. Italy has received over 30
billion cubic meters of gas out of the total 37.9 billion cubic
meters supplied to Europe, positioning Azerbaijan among Italy's top
three gas suppliers and marking significant achievements in
bilateral relations.
Further discussions included plans to expand the capacity of the
Trans-Adriatic Gas Pipeline (TAP) by 1.2 billion cubic meters
starting in 2026, aimed at enhancing collaboration in energy
security and efforts towards decarbonization. The meeting also
addressed cooperation with Ansaldo Energia on equipping a 1,280 MW
power plant and substations in liberated areas, alongside exploring
opportunities for renewable energy supply.
Italy expressed keen interest in accessing 'green energy' from
Azerbaijan via the Caspian-Black Sea-European Green Energy
Corridor, signaling mutual aspirations for sustainable energy
solutions.
Speaking to Azernews British expert Neil Watson noted that Italy
has always been a very significant energy partner for
Azerbaijan.
"Currently, Italy imports 23 percent of its energy, and Baku is
the second greatest supplier of gas after Algeria. This is
predominantly because the Trans-Adriatic Pipeline (TAP) section of
the Southern Gas Corridor delivers to an Italian interconnector.
Baku Caspian Gas and Crude Oil are a reliable and diversified
energy source for Italy and across Europe. Gas is also recognized
as a transitional energy source before carbon-neutral sources take
over. Italy recently announced plans to increase TAP capacity by
1.2bcm per annum to reach 11.2bcm by 2026, eventually reaching
20bcm," the expert added.
According to him, Italy has already achieved an 18 percent
increase in its level of domestically produced renewable
energy.
"Nonetheless, its potential requirement for energy from
renewable sources remains considerable, and it will certainly be a
prime customer for so-called green energy through the proposed
Black Sea-European Green Corridor if it is to achieve its COP29
commitments, much of which will be generated via the join projects
in renewable energy to be implemented in the liberated
territories."
N. Watson concluded that Italian-Azerbaijani energy relations
are already very strong, and only just lag behind that with the
UK.
"I believe that Italy will strongly propound the current and
future role of Azerbaijan in the European energy mix, both in
hydrocarbons and renewables. Italian politicians and policymakers
have already witnessed the proactive and pragmatic approaches of
Official Baku. The Italian G7 Presidency and Azerbaijani COP29
hosting will complement each other, demonstrating the strength of
this partnership at a time when Europe needs diversified and
reliable energy sources."
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