logo

In 2022, Azerbaijan will increase gas exports to Europe by 40%

Views: 212

In 2022, Azerbaijan will increase gas supplies to Europe by 40% compared to 2021 – up to 11.5 bcm, Minister of Energy Parviz Shahbazov  said yesterday in Bucharest at the V Romanian International Gas Conference.

“In less than two years (slightly more than 20 months – Caspian Barrel), more than 16 bcm of gas from Azerbaijan were supplied to Europe. The export of Azerbaijani gas to Europe in 2022 will increase by 40% – from 8.2 bcm to 11.5 bcm. This indicates that the Southern Gas Corridor (SGC) is operating at maximum capacity, as well as the continuity and stability of supplies,” Shahbazov said.

The  Minister of Energy spoke about Azerbaijan’s contribution to the diversification of supply sources, which will balance energy markets in order to eliminate the energy crisis. He noted that the expansion of the Southern Gas Corridor within 5 years will be “the next step in ensuring energy security.” He said doubling Azerbaijan’s natural gas exports to 20 bcm would require investments in pipeline capacity and gas production, as well as contracting and technical measures.

“The speedy implementation of this project is of common interest to us. The memorandum of understanding on the strategic partnership in the field of energy between Azerbaijan and the European Union, signed on July 18, 2022, is a decisive step for our joint work and provides the necessary political guarantee. We believe that thanks to joint political will, increased volumes of Azerbaijani natural gas will be delivered to Europe at a decisive moment for energy security – in 2027,” Shahbazov added.

He also drew attention to Azerbaijan’s plans to use renewable energy sources and hydrogen in the process of diversifying energy supplies to Europe in the long term.

“In this regard, the minister stressed the importance of the Georgian-Romanian Black Sea project of underwater energy and digital communication for the transfer of wind energy from the Caspian Sea to Europe and the creation of a green energy corridor. Shahbazov added that Azerbaijan will become a reliable partner in “green energy” and these new cooperation priorities will take the energy partnership with Romania to a new stage,” the message says.

Caspian Barrel

0

Your Cart