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Thursday, August 17, 2017

EU to partner with Azerbaijan for gas supply

With the scrapping of the Russian South Stream Pipeline project, the European Union's (EU) Energy Commissioner Maros Sefcovic announced it would pursue Azerbaijan gas supplies, the U.S. - Azerbaijan Chamber of Commerce reported Monday.

At the beginning of December, Sefcovic met with Azerbaijan President Ilham Aliyev and they talked about the potential for cooperation in energy production and exports. In the discussion both parties hinted at the possibility to link Azerbaijan gas supplies to Europe without crossing into Russian territory. The pipeline was discussed as an alternative to the South Stream Project Pipeline.

Azerbaijan and the EU have already agreed on a memorandum of understanding with regard to strategic partnership in energy supply. The union will be able to diversify its imports of gas. This also limits reliance on Russian supplies, and Azerbaijan benefits economically from exports to EU member states.

Earlier an agreement was made between Greece, Bulgaria and Romania that would connect these countries.

Organizations in this story

United States - Azerbaijan Chamber of Commerce 1212 Potomac Street, N.W. Washington, D.C. - 20007

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