BRUSSELS, European Commission President Ursula von der Leyen and President Ilham Aliyev of Azerbaijan signed a new Memorandum of Understanding on a Strategic Partnership in the Field of Energy.

The signing ceremony, held in the capital Baku and attended by EU Commissioner for Energy Kadri Simson and Azeri Energy Minister Parviz Shahbazov, aims to strengthen the existing cooperation between the EU and Azerbaijan.

In a statement, the EU Commission said that the Memorandum includes a commitment to double the capacity of the Southern Gas Corridor to deliver at least 20 billion cubic meters to the EU annually by 2027.

Azerbaijan is already now increasing deliveries of natural gas to the EU, from 8.1 billion cubic meters in 2021 to an expected 12 cubic meters in 2022, noted the statement.

“Today, with this new Memorandum of Understanding, we are opening a new chapter in our energy cooperation with Azerbaijan, a key partner in our efforts to move away from Russian fossil fuels,” said von der Leyen.

“Not only are we looking to strengthen our existing partnership which guarantees stable and reliable gas supplies to the EU via the Southern Gas Corridor. We are also laying the foundations of a long-term partnership on energy efficiency and clean energy,” she stressed.

On her part, Kadri Simson, said, “The new Memorandum of Understanding underlines the strategic role of the Southern Gas Corridor in our diversification efforts.” “Azerbaijan has already increased the natural gas deliveries to the EU and this trend will continue, with up to four billion cubic meters of additional gas this year and volumes expected to more than double by 2027,” she said.

Currently, the EU and Azerbaijan are also negotiating a new comprehensive agreement, which will allow for enhanced cooperation in a wide range of areas, including economic diversification, investment and trade.

Source: Kuwait News Agency