Parviz Shahbazov: Time has come for decisive actions to support regional energy infrastructure

Amid current challenges, the time has come to demonstrate a pragmatic approach to increasing natural gas supplies from Azerbaijan as a reliable partner and to take decisive action by providing financial and political support for the development of relevant cross-regional energy infrastructures, Azerbaijan’s Minister of Energy Parviz Shahbazov said at the third high-level energy dialogue meeting in Brussels, aimed at strengthening the strategic energy partnership between Azerbaijan and the European Union (EU), Report’s European bureau said.

According to him, granting the Caspian–Black Sea–Europe "Green Energy Corridor" the status of a Project of Mutual Interest (PMI) and its inclusion in the EU’s 10-Year Network Development Plan (TYNDP) is crucial for the successful implementation of this strategic initiative. “We call upon EU institutions to step up their support and promote this project as a priority,” he said.

The minister also reminded that last year Azerbaijan's gas exports to Europe grew by 9.5% to reach 13 billion cubic meters, and this year 50% of its total exports are destined for European markets. "By 2030, additional production of approximately 8 billion cubic meters of gas is expected under existing contracts, while 1.5 billion cubic meters will be freed up due to solar and wind power stations with a capacity of 2.7 GW. The delivery of these volumes, alongside a significant and timely expansion of additional supplies, will require pipeline expansion, investment in field development, long-term commercial contracts, and financial mobilization."