Azerbaijan has real potential to become key partner for EU on future energy security arrangements – global analyst

Date:



BAKU, Azerbaijan, September 20. Because the EU is
looking for to quickly lower its dependencies on Russian gasoline, Azerbaijan
has actual potential to develop into a key accomplice on future vitality
safety preparations, CEO at SMARTLINK COMMUNICATIONS, international
analyst, guide, coach and assume tanker Radu Magdin stated in
an interview with Development.

“We all know and welcome that Azerbaijan is already now growing
deliveries of pure gasoline to the EU, from 8.1 billion cubic meters
in 2021 to an anticipated 12 billion cubic meters in 2022. This
optimistic situation, mixed with the EU settlement with Azerbaijan,
signed on July 18, stands proof of the optimistic potential of
strengthened vitality cooperation. Whereas the settlement itself goals at
growing the nation’s gasoline exports to Europe via the Southern
Fuel Hall, it will possibly additionally open additional alternatives for each
sides, both bilaterally or beneath a reshuffled Jap
Partnership. It’s really historic that the settlement envisages a
substantial enhance within the annual quantity of gasoline exported from
Azerbaijan to Europe over the subsequent 5 years, from making certain
roughly 2.5 % of the EU’s gasoline consumption now, to round 5
% by 2027. It may not sound a lot, however in actuality, it’s going to
cowl greater than 10 % of the gasoline that Europe used to get from
Russia till not too long ago,” he stated.

Magdin identified that strengthened cooperation with Azerbaijan
will even contribute to the diversification goals envisioned
within the REPowerEU Plan and assist Europe finish its decades-long
dependency on Russian gasoline.

“And European officers are actually grateful to the nation
and can return the favor via different key initiatives for
Azerbaijan. As a result of the EU’s collective resolution is to restrict the
buy of pure gasoline from Russia, Azerbaijan is an applicable
answer for Europe. By signing this settlement, Azerbaijan has
entered a brand new stage within the period of advanced challenges affecting
international vitality safety. Strategic partnership relations on this
discipline impose obligations on each Azerbaijan and the EU. First of
all, the enlargement of the Southern Fuel Hall requires further
investments, nonetheless traders, together with the European Funding
Financial institution, will more than likely be interested in the enlargement of the gasoline
pipeline capability, with the help of the EU,” famous the
analyst.

Magdin believes that EU and Azerbaijan ought to collectively preserve
future developments in shut focus.

“As a number of vitality consultants and European officers famous,
Azerbaijan has great potential in renewable vitality. That is
why the EU already expressed its intention to cooperate with the
nation on this discipline as nicely, notably in relation to Azerbaijan’s
photo voltaic and wind vitality manufacturing,” he added.

The provision of Azerbaijani gasoline to Europe via the Southern Fuel
Hall started on December 31, 2020. Azerbaijan exported its
pure gasoline to the European market via pipelines for the primary
time in historical past.

The Trans Adriatic Pipeline (TAP) which is the European a part of
the Southern Fuel Hall, yearly provides eight billion cubic
meters of gasoline to Italy and one billion cubic meters of gasoline to
Greece and Bulgaria.

The European Union has expressed its help to the enlargement of
the Southern Fuel Hall. In July this 12 months, Azerbaijan and the
European Fee signed a memorandum of understanding, which
amongst different points, additionally envisages doubling the Hall’s capability
to twenty billion cubic meters per 12 months by 2027.

Comply with the creator on Twitter: @Lyaman_Zeyn



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