Azerbaijan and EU Discuss Energy Efficiency Priorities

| News, Economy, Azerbaijan

On May 2, the European Union-Azerbaijan energy dialogue was held in Brussels with the participation of Kadri Simson, the European Commissioner for Energy, and Parviz Shahbazov, the Minister of Energy of Azerbaijan.

Within the framework of the high-level energy dialogue established to develop the energy partnership between Azerbaijan and the European Union at a new stage, the leadership of the Minister of Energy Parviz Shahbazov and the Commissioner for Energy Affairs of the European Union Kadri Simson, the Ministry of Energy, SOCAR, the State Agency for Renewable Energy Sources (AREA), the European Commission's Directorate General for Energy (DG Ener), the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) at the meeting held with the participation of representatives of Azerbaijan- European Union cooperation was discussed.

Energy Minister Parviz Shahbazov said that implementing the strategic partnership document between the EU and Azerbaijan in the energy field necessitates strengthening joint efforts to increase the export of natural gas from Azerbaijan to Europe by 20 billion cubic meters by 2027. "The supply of additional gas requires expanded supply routes. In this regard, the expansion of the Southern Gas Corridor is a strategic priority. Significant investments and financial instruments are needed to start work on the project's expansion and achieve progress. In this regard, the support of European partners is important," he noted. The minister also emphasized the development of infrastructures that bring and diversify energy resources from a safe and reliable source to Europe, such as the "Ring of Solidarity" route and the Caspian-EU "green energy" corridor, which are important for comprehensive energy security. 

The Ministry of Energy stated that the energy dialogue would focus on the current situation of gas supply in Europe, the role of the Southern Gas Corridor in anti-crisis measures, renewable energy, and energy efficiency, as well as the gas infrastructure policy of the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and " continued with presentations and discussions on financial instruments to support the development of green energy. The Ministry believes that the directions of future development of cooperation have been determined within the framework of the energy dialogue.

Evaluating Azerbaijan's contribution to Europe's energy security during the energy crisis, EU Commissioner for Energy Affairs Kadri Simson said that the EU's expected gas demand is taken into account when moving from crisis management to medium-term strategic planning, which is one of the important issues related to the expansion of the Southern Gas Corridor. "We support the expansion of the corridor. Today's meeting helped us to define the next concrete steps. In accordance with our REPowerEU plan, the European Union supports our South Caucasus neighbors and partners in the field of increasing renewable energy production. For example, the low level of methane emissions in Azerbaijan in the Xerxes region will provide opportunities to defend the country's leadership position on methane activity jointly," the commissioner noted.

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