The Europe Union and Azerbaijan on Monday signed a new Memorandum of Understanding (MoU) on a Strategic Partnership in the field of Energy as part of efforts to increase natural-gas supplies from Azerbaijan aimed at reducing reliance on Russian energy.
Azerbaijan President Ilham Aliyev and visiting European Commission President Ursula von der Leyen signed the agreement on Baku, where both sides stressed over improving bilateral cooperation.
“Today, 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,” Leyen said after signing the agreement.
Leyen further stressed over strengthening the 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,” Leyen added.
Following the agreement, Azerbaijan agreed to double the capacity of the Southern Gas Corridor to deliver at least 20 billion cubic metres to the EU annually by 2027.
EU Energy Commissioner, Kadri Simson, who is accompanying Leye said that the new agreement underlines the strategic role of the “Southern Gas Corridor in our diversification efforts.”
“Azerbaijan has already increased the natural gas deliveries to the EU and this trend will continue, with up to 4 billion cubic meters of additional gas this year and volumes expected to more than double by 2027,” Simson added.
The EU and Azerbaijan are also negotiating a new comprehensive agreement in order to enhance cooperation in all areas including economic diversification, investment, and trade.
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