EU Commission President in Azerbaijan to close gas deal
European Commission President Ursula von der Leyen said on Monday that she was meeting Azerbaijani officials in Baku, to close a deal to increase imports of natural gas to the EU.
“Our goal: double the gas delivery from Azerbaijan to the EU in a few years. Azerbaijan will be a crucial partner for our security of supply and on our way to climate neutrality,” she tweeted.
The EU is turning to more reliable energy suppliers.— Ursula von der Leyen (@vonderleyen) July 18, 2022
Today I’m in Azerbaijan to sign a new agreement.
Our goal: double the gas delivery from Azerbaijan to the EU in a few years.
???????? will be a crucial partner for our security of supply and on our way to climate neutrality. pic.twitter.com/fVHPr921Ui
Von der Leyen is due to speak alongside the country’s president, Ilham Aliyev, at a press conference this afternoon.
After the Nord Stream 1 pipeline from Russia began scheduled maintenance last week, the EU stepped up its efforts to diversify its energy sources and reduce its reliance on Russian gas supplies.
Work on the pipeline from Russia to Germany is due to continue until the end of this week, but the Russian Foreign Ministry said that the future of the pipeline was linked to sanctions against Moscow.
EU Observer on Friday reported that European Commission had proposed a draft deal to EU countries to import more of Azerbaijani gas to Europe,
“You can expect a commitment to a significant increase in volumes in the coming years,” CNBC cited an anonymous EU official with knowledge of the deal.
The project, which needs approval from the EU governments before it gets off the ground will deliver at least 20 billion cubic meters of gas annually by 2027.
In order to reach that level of trade, additional investment will be required to the already existing Southern Gas Corridor, a series of pipelines from the Caspian Sea to Southeastern Europe.
The Trans-Adriatic pipeline, the final leg of the Southern Gas Corridor pipeline network, last year brought more than 8 billion cubic meters of Azeri gas into Greece, Albania and Italy.