Azerbaijan and EU sign memorandum on strategic cooperation in energy

16:31 18 July Kyiv, Ukraine

As a result of the meeting between President Ilham Aliyev and President of the European Commission Ursula von der Leyen, which took place on July 18 in Baku, a "Memorandum of Understanding on a strategic partnership between the European Union, represented by the European Commission, and the Republic of Azerbaijan in the energy sector" was signed.
 
The memorandum declares commitment to the climate goals of the European Union, in achieving which gas will play a significant role. The parties also agreed to make Azerbaijani gas supplies efficient and environmentally friendly. The document also provides for the expansion of the southern gas corridor for the supply of Azerbaijani gas to the EU and the Western Balkans.. At the same time, the EU can offer Azerbaijan a variant of consolidated fuel purchases. It is assumed that gas supplies through the corridor may reach at least 20 billion cubic meters per year by 2027. In the short term, Azerbaijan will increase gas supplies to European consumers in 2022 to 12 billion cubic meters, which is 3.9 billion cubic meters more than last year.
 
Speaking after a meeting with the head of the European Commission, President Ilham Aliyev noted that the energy projects initiated by Azerbaijan have completely changed the energy map of Europe.
“Today’s memorandum is a roadmap for the future. We hope that Azerbaijan and the EU will complete work on a new bilateral agreement in the coming months,” Aliyev said.
Aliyev drew attention to the special importance of ensuring energy security.
“Reliable cooperation between Azerbaijan and the EU is a great asset. Our energy dialogue covers many areas,” the Azerbaijani leader stressed.
The head of the European Commission, in turn, noted that Azerbaijan has great potential in the field of renewable energy sources.
“The EU turns to reliable energy suppliers. Azerbaijan is one of them. With today's agreement, we are committed to expanding the Southern Gas Corridor by doubling gas supplies from Azerbaijan to the EU,” Von der Leyen said.