Azerbaijan needs guarantees from EU countries to buy gas- Aliyev

BAKU. April 4 (Interfax) - Azerbaijan will expand the geography of gas supplies to Europe, as it is already working on creating a gas distribution network in some European countries, Azerbaijani President Ilham Aliyev said.

"Today, Azerbaijan supplies natural gas to 12 countries. Ten of them are European, eight of which are members of European Union. The geography of our gas supply in Europe will definitely grow because today we are already involved in creation of gas distribution network of some European countries. Some of them do not have it. Some of them need to expand it. Azerbaijan as investor is planning to do it. So, geography of our gas supplies definitely will grow," Aliyev's press service quoted him as saying at the 11th Southern Gas Corridor Advisory Council Ministerial Meeting and the Third Green Energy Advisory Council Ministerial Meeting.

Aliyev also mentioned the need to expand the Southern Gas Corridor, which he said was currently operating at full capacity.

"The South Caucasus Pipeline, TANAP and TAP are three integral parts of this corridor. They are operating at full capacity, and we need to expand them," he said, adding that this would definitely require funding.

"Here we are getting to an important point. We have said repeatedly that international financial institutions, those institutions that have decided to suspend funding for projects directly related to mineral resources, might have to end this policy," Aliyev said.

He also said wanted to be confident that Europe will need Azerbaijani gas. "That is, we need to be certain there is going to be a market for several years to come. If we do not have such a guarantee, then investors will not put money into the country, and there will be a huge deficit of natural gas. Our reserves are well known. We are awaiting the start of new production from new fields," he said.

Azerbaijan has gas supply contracts with ten European countries: Italy, Greece, Bulgaria, Romania, Hungary, Serbia, Slovenia, Croatia, Slovakia and North Macedonia. It has long-term contracts with a fixed supply volume with Italy, Greece and Bulgaria, and contracts without fixed volumes with the rest.