EU and Azerbaijan to double capacity of Southern Gas Corridor

Published in Economics
Tuesday, 19 July 2022 11:38

Yesterday in Baku, European Commission President Ursula von der Leyen and President of Azerbaijan Ilham Aliyev signed a new Memorandum of Understanding on a Strategic Partnership in the Field of Energy.

The agreement includes a commitment to double the capacity of the Southern Gas Corridor to deliver at least 20 billion cubic metres to the EU annually by 2027.

With this new Memorandum of Understanding, we are opening a new chapter in our energy cooperation with Azerbaijan, a key partner in our efforts to move away from Russian fossil fuels,” said Ursula von der Leyen. “Not only are we looking to strengthen our existing partnership which guarantees stable and reliable gas supplies to the EU via the Southern Gas Corridor. We are also laying the foundations of a long-term partnership on energy efficiency and clean energy, as we both pursue the objectives of the Paris Agreement.

According to the European Commission, the EU and Azerbaijan are also currently negotiating a new comprehensive agreement that would enhance cooperation in a wide range of areas. These include economic diversification, investment, trade and the full use of civil society potential, while stressing the importance of human rights and the rule of law.

Following the visit in Baku today, the EU-Azerbaijan Cooperation Council will meet on 19 July in Brussels to review overall relations and discuss potential areas of mutual interest for cooperation in the future.

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Press release

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