17:07 - 25.04.2023

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April 25, Fineko/abc.az. Azerbaijan plans to double gas supplies to the European Union (EU) market.

ABC.AZ reports that Azerbaijani President Ilham Aliyev stated about this at the signing ceremony of the Memorandum of Understanding (MoU) on the encouraging cooperation among Bulgaria's Bulgartransgaz, Romania's Transgaz, Hungary's FGSZ, Slovakia's Eustream and the State Oil Company of Azerbaijan (SOCAR) held today in Sofia.

According to President Aliyev, gas exports to the EU will make up about half of Azerbaijan's total gas exports of this year.

“Last July, Azerbaijan and the European Commission signed the Memorandum of Understanding on strategic partnership in the field of energy. Based on this Memorandum, we plan to double our gas supplies to the EU market by 2027. In 2021, we delivered 8 bn cu m of gas to Europe. This year our goal is 12 bn cu m. And this is almost half of our total exports, which we plan to reach 24.5 bn cu m this year. Of course, our production and exports will grow. Because we will increase production at existing gas fields and expect natural gas production at new fields in the coming years."