Baku, Ursula von der Leyen signs a memorandum of understanding for the increase of gas exports from the Caucasus
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Baku, Ursula von der Leyen signs a memorandum of understanding for the increase of gas exports from the Caucasus

“Azerbaijan will be a key partner for our security of supply and for our path towards climate neutrality” tweets the president of the EU Commission, clarifying: “In a few years, we will double our gas supplies”

“The EU is turning to more reliable energy suppliers. Today I am in Azerbaijan to sign a new agreement. Our goal is to double the supply of gas from Azerbaijan to the EU in a few years. Azerbaijan will be a key partner for our security of supply and for our path towards climate neutrality”. The president of the European Commission Ursula von der Leyen writes in a tweet, today in the Azerbaijani capital Baku for an important agreement between the EU and the Caucasian state. President von der Leyen has in fact signed the agreement for a substantial increase, by 2027, of natural gas supplies from Azerbaijan.

In fact, Ursula von der Leyen explained: “With this memorandum of understanding we are committed to expanding the Southern Gas Corridor: it is already a very important supply route for the EU, which currently supplies 8.1 billion cubic meters. of gas per year. We will expand its capacity to 20 billion cubic meters per year in a few years. From 2023 we should already reach 12 billion cubic meters”. The president of the EU Commission then added: “The agreement will help offset the cuts in Russian gas supplies. And it will contribute significantly to the security of supply in Europe”.

Azerbaijan, strategic partner of the EU
Referring to the change of perspective that the war in Ukraine has imposed on the world energy context, Ursula von der Leyen explained that “even before the brutal invasion of Ukraine, Russian gas supplies to Europe were no longer reliable. The EU has therefore decided to diversify supplies from Russia and turn to more reliable suppliers. I am pleased to include Azerbaijan among them. You are truly a key energy partner for us, not only for our security of supply but also for our efforts to become climate neutral”.

The president of the European Commission added that “the EU is Azerbaijan’s first trading partner, its first export destination and one of its most important sources of investment. We are investing € 60 millions of EU funds in Azerbaijan until 2024 “, then specifying that” the Economic and Investment Plan has the potential to mobilize up to € 2 billion of additional investments. It is already at work, supporting around 25,000 Azerbaijani small and medium-sized enterprises, and making the port of Baku a sustainable transport hub”.

Finally, on the subject of renewable energies, Ursula von der Leyen concluded by saying that “Azerbaijan has enormous potential. In particular in offshore wind and green hydrogen. Today, with our Memorandum of Understanding, we are laying the foundations for solid cooperation in this area. Thus, gradually, Azerbaijan will transform itself from a supplier of fossil fuels to becoming a partner for renewable energies “.