Home WORLD NEWS EU signs deal with Azerbaijan to double gas imports by 2027

EU signs deal with Azerbaijan to double gas imports by 2027

by News

Azerbaijan’s gas imports to the bloc will reach 20 billion cubic metres by 2027 as the European Union seeks non-Russian suppliers.

Published On 18 Jul 2022

The European Commission signed a memorandum of understanding with Azerbaijan to double imports of Azeri natural gas to at least 20 billion cubic metres (bcm) a year by 2027.

“Today, with this new memorandum of understanding, we are opening a new chapter in our energy cooperation with Azerbaijan, a key partner in our efforts to move away from Russian fossil fuels,” Commission President Ursula von der Leyen said on Monday.

She said the European Union is seeking to double gas imports from Azerbaijan as it seeks non-Russian suppliers after Moscow’s invasion of Ukraine.

“Azerbaijan is a crucial energy partner for us that has always been reliable,” von der Leyen said at a joint news conference with Azerbaijan’s President Ilham Aliyev following the signing ceremony in Baku, the Azeri capital.

Through the Trans Adriatic Pipeline, Azerbaijan is “delivering currently more than 8 billion cubic metres of gas per year and we will expand its capacity to 20 billion cubic metres” by 2027, she said.

The Azeri gas imports will already increase to 12bcm next year, which “will help compensate for cuts in supplies of Russian gas and contribute significantly to Europe’s security of supply,” she added.

Aliyev stressed that “issues of energy security today are more important than ever before”.

He added: “Long-lasting, predictable and very reliable cooperation between EU and Azerbaijan in the field of energy is a big asset.”

The Southern Gas Corridor transporting Azeri gas to the EU has been operational since 2020.

Natural gas supplies have emerged as a weapon between Russia and Europe since Moscow’s February 24 invasion of Ukraine.

Ahead of the visit, the European Commission said: “Amid Russia’s continued weaponisation of its energy supplies, diversification of our energy imports is a priority for the EU.”

In May, EU leaders agreed to stop most Russian oil imports by the end of the year, as part of unprecedented sanctions they slapped on Moscow over the military action in Ukraine.

But the bloc put off an outright ban on Russian gas, which in 2021 amounted to 155bcm – nearly 40 percent of the EU’s needs.

You may also like

Leave a Reply