Azerbaijan and European Commission for Energy Reaffirms a Strategic Energy Partnership

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Azerbaijan and European Commission for Energy Reaffirms a Strategic Energy Partnership

Fri, 02/11/2022 - 11:38
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Flag of Azerbaijan (© Shutterstock/Tatohra)
Flag of Azerbaijan (© Shutterstock/Tatohra)

Azerbaijan`s Minister of Energy, Parviz Shahbazov, and European Commissioner for Energy, Kadri Simson, have issued a joint press statement reaffirming their commitment to a strategic energy partnership between the European Union and Azerbaijan.

The two governments reached an agreement during the Eighth Ministerial Meeting of the Southern Gas Corridor Advisory Council held on February 4 in Baku. The meeting was based on the shared goals of long-term energy security, including the security of supply and the transition to the prospected green energy economy.

“We welcome the successful outcome of the full scale first operational year of the Southern Gas Corridor and its contribution to the provision of reliable, competitive and affordable energy supplies from the Republic of Azerbaijan to markets in Georgia, Turkey, and Europe. This transmission system spanning across six countries contributes to a diversification of energy supplies and sources, including to regions that previously lacked access to natural gas, where it can also support an accelerated coal phase-out,” the joint statement read.

Based on a section of the statement, the Government of the Republic of Azerbaijan plays a strategic role in enabling the Southern Gas Corridor by delivering secure, stable, and affordable energy supplies to Europe. According to the joint statement, the recent global hike in gas prices has highlighted the need to diversify supplies.

“We emphasize the efforts from all interested parties in examining the possible extension of the Southern Gas Corridor towards new energy markets, including the Western Balkans. As a next step, it is important to assess all commercial, environmental, technical, regulatory and climate-related matters, which could emerge during the realization of any future extension of the Southern Gas Corridor,” part of the statement read.

The statement also pointed out that the Southern Gas Corridor project’s shareholders are signatories to many other climate and sustainable development initiatives, including the Methane Guiding Principles.

Further operations of the much-publicized Southern Gas Corridor will be based on the implementation of the industry’s and parties’ best practices as well as the sustainable activities complying with the relevant regulatory frameworks.

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