{"id":10488,"date":"2022-07-20T00:00:00","date_gmt":"2022-07-19T22:00:00","guid":{"rendered":"https:\/\/www.ir-ia.com\/news\/?p=10488"},"modified":"2022-07-20T09:18:21","modified_gmt":"2022-07-20T07:18:21","slug":"eu-signs-deal-to-double-gas-imports-from-azerbaijan-by-2027","status":"publish","type":"post","link":"https:\/\/www.ir-ia.com\/news\/eu-signs-deal-to-double-gas-imports-from-azerbaijan-by-2027\/","title":{"rendered":"EU signs deal to double gas imports from Azerbaijan by 2027"},"content":{"rendered":"\n

The European Union (EU) has signed a new gas deal with Azerbaijan to double imports of gas from Azerbaijan to at least 20 billion cubic meters annually by 2027 as the bloc is looking for alternatives to Russian gas to secure its future supplies.<\/strong><\/p>\n\n\n\n

European Commission president Ursula von der Leyen and Azeri President Ilham Aliyev met in Baku on July 18 and signed a memorandum of understanding that opens \u201ca new chapter in our energy cooperation with Azerbaijan<\/a>, a key partner in our efforts to move away from Russian fossil fuels\u201d, said von der Leyen.<\/p>\n\n\n\n

EU<\/a> is not only strengthening its existing partnership with Azerbaijan but also \u201claying the foundations of a long-term partnership on energy efficiency and clean energy, as we both pursue the objectives of the Paris Agreement. But energy is only one of the areas where we can enhance our cooperation with Azerbaijan and I look forward to tap the full potential of our relationship\u201d she added.<\/p>\n\n\n\n

Ursula von der Leyen emphasized three points from the agreement:<\/p>\n\n\n\n

  1. EU will double the supply of gas from Azerbaijan to the EU from the current 8 billion cubic meters of gas per year to 20 billion cubic meters in a few years.<\/li>
  2. EU is laying the ground for solid cooperation in renewables with Azerbaijan which has tremendous potential in renewable energy.<\/li>
  3. Recognizing the importance of the Global Methane Pledge that requires its signatories to reduce methane emissions collectively by at least 30% by 2030, the MoU sets out commitments to reduce methane emissions throughout the entire gas supply chain.<\/li><\/ol>\n\n\n\n
    \"EU<\/a>
    Azerbaijan’s President Ilham Aliyev (L) meets with European Commission president Ursula von der Leyen, in Baku, Azerbaijan, July 18, 2022. (Image Credit: European Union\/EEC – Audiovisual Service)<\/sup><\/em><\/figcaption><\/figure><\/div>\n\n\n\n

    Beyond energy, the EU and Azerbaijan are discussing the expansion of bilateral cooperation. European Commission president said the EU wants to further enhance investments in Azerbaijan. \u201cWe are investing EUR 60 million of EU funds in Azerbaijan until 2024. And the Economic and Investment Plan has the potential to mobilise up to EUR 2 billion in additional investments. It is already at work, supporting about 25,000 Azeri small and medium companies, and making the Port of Baku a sustainable transport hub.\u201d<\/p>\n\n\n\n

    \u201cAzerbaijan has already increased the natural gas deliveries to the EU and this trend will continue, with up to 4 billion cubic meters of additional gas this year and volumes expected to more than double by 2027. But our cooperation goes beyond that, accelerating the deployment of renewables and addressing methane emissions; these steps will both increase the security of supply and help achieve our climate goals,\u201d EU\u2019s energy commissioner, Kadri Simson, said in a statement<\/a>.<\/p>\n\n\n\n

    The new MoU on a Strategic Partnership in the Field of Energy<\/a> signed by the two Presidents today includes a commitment to double the capacity of the Southern Gas Corridor from more than 8 billion cubic meters to deliver at least 20 billion cubic meters to the EU annually by 2027. This will help Europe to end its dependency on Russian gas.<\/p>\n\n\n\n

    \n

    Azerbaijan is the EU's key partner in efforts to move away from Russian fossil fuels. \ud83c\udde6\ud83c\uddff\ud83c\uddea\ud83c\uddfa

    We are strengthening our existing partnership on gas supplies to the EU via the Southern Gas Corridor and laying the foundations for partnership on clean energy.    #REPowerEU<\/a><\/p>— European Commission \ud83c\uddea\ud83c\uddfa (@EU_Commission) July 18, 2022<\/a><\/blockquote>