Azerbaijan, EU seek to expand gas supplies geography

By Azernews

By Ayya Lmahamad

Energy Minister Parviz Shahbazov and newly-appointed head of the EU delegation to Azerbaijan Peter Michalko have discussed possibilities of further bilateral cooperation to expand the geography of gas supplies.

At a meeting held on November 11, the parties considered the implementation of the Southern Gas Corridor project, noting the special importance of Azerbaijani gas for European market access.

Speaking about the long-term fruitful and strategic partnership between Azerbaijan and the EU in the energy field, Shahbazov expressed confidence that relations in this area would continue to develop. The minister also congratulated the new ambassador on his appointment and wished him success in his work.

The parties also focused on the priorities of energy cooperation, energy efficiency, development of renewable energy sources and a number of other issues of mutual interest within the framework of the EU's Eastern Partnership program.

Since 2009, Azerbaijan has been cooperating with the EU as part of the Eastern Partnership (EaP) program in bilateral and multilateral formats. The EU is one of Azerbaijan’s main trade partners. Azerbaijan attaches great importance to cooperation with the EU, which is important in terms of applying international experience in the expansion and diversification of the country’s economy.

The EU invested over $21.5 billion in Azerbaijan’s economy from 2012 to 2021. Azerbaijan’s trade turnover with the EU amounted to $9.3 billion last year, which is 38 percent of the country’s foreign trade.

The Delegation of the European Commission to Azerbaijan was opened in Baku in February 2008.