7 Oct 2022 09:50

Azerbaijan planning to increase gas supply to Europe to 18 bcm by 2027 - Aliyev

BAKU. Oct 7 (Interfax) - Azerbaijani gas supply to Europe will reach at least 18 billion cubic meters by 2027, Azerbaijani President Ilham Aliyev said.

"In accordance with the memorandum signed with the European Union, we are planning to at least double our gas exports to the EU in the coming years. The supply stood at 9 billion cubic meters in 2021, which means it will reach at least 18 billion cubic meters or maybe more in 2027," Aliyev said in an interview with Azerbaijani TV channels in Prague.

Azerbaijan will increase gas supply to Europe by 30%-40% to 11.5 billion cubic meters in 2022, compared to 2021, he said.

Azerbaijan is starting to develop new gas fields and is increasing production at the existent ones, he said.

"At the same time, the use of renewable energy in Azerbaijan will allow us to create substantial gas reserves. It is easy to assess our gas export potential if we raise the efficiency of the energy infrastructure and cut losses," Aliyev said.

Azerbaijan will export both hydrocarbons and electricity to Europe, he said. "A specific program is being drafted to achieve this goal [electricity exports], yet, perhaps, it is too early to talk about that. Hopefully, we will make much headway in this area within the next seven to six months. So, Azerbaijan will be an important energy partner not just for Europe but also for the entire world," Aliyev said.