Brussels to host EU-Azerbaijan Energy Dialogue
The EU Commissioner for Energy Kadri Simson will host the EU-Azerbaijan Energy Dialogue in Brussels May 2, News.Az reports citing the European Commission.
Reportedly, the event will be attended by Azerbaijan’s Minister of Energy Parviz Shahbazov.
They will take stock of the cooperation in energy between the EU and Azerbaijan and discuss how to take it forward.
“In particular, the EU and Azerbaijan will exchange on the gas supply situation, including the measures put in place by the EU over the past year to diversify energy supplies and end Russian fossil fuel imports in the EU. They will discuss the expansion of the Southern Gas Corridor in supporting the EU's efforts and additional viable routes of supplying Caspian gas to the EU. In a Memorandum of Understanding on a Strategic Partnership in the Field of Energy signed last year, the two partners committed to double the capacity of the pipeline to deliver at least 20 billion cubic meters of gas to the EU annually by 2027,” reads a message on the Commission’s website.
They will also discuss how to take forward their cooperation on the clean energy transition, including policies on renewable energy, energy efficiency and methane emissions.
Representatives of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) will also participate in the Energy Dialogue in Brussels to provide an overview of the financial instruments available to support the development of clean energy in Azerbaijan.
Azerbaijan exports gas to Europe via the Trans Adriatic Pipeline, the final leg of the Southern Gas Corridor. The initial capacity of TAP is 10 billion cubic meters expandable to 20 billion cubic meters per year. TAP has delivered a total of 22 billion cubic meters since the start of commercial operation.
Azerbaijan and EU have agreed to boost gas supplies via the Southern Gas Corridor from 10 billion cubic meters to 20 billion cubic meters by 2027. Azerbaijan plans to export a total of 24 billion cubic meters of gas, of which around 12 billion cubic meters will account for Europe.