The doubling of Azerbaijani gas supplies to the EU is truly a landmark event
Inglab Ahmedov: Today's geopolitical game around energy supplies to Europe and Azerbaijan's role in this process remind me of the mid-1990s. The beginning [of this process] was the conclusion of the "Deal of the Century" and the construction of the Baku-Tbilisi-Ceyhan oil pipeline. But the value of today's agreements around the doubling of Azerbaijani gas supplies to Europe is higher, to the extent that today Azerbaijan is not just one of the suppliers of energy carriers capable of reducing Europe's dependence on Russia's monopoly, but a full-fledged partner, which at the same time has approached the current energy "impasse" in Eurasia in a good "sporting shape", with self-sufficiency and with the constancy of its foreign policy priorities.
The visit of the President of the European Commission, Ursula von der Leyen, and the signing of the memorandum on doubling the supply of Azerbaijani natural gas to Europe is truly a landmark event.
As Mark Twain once said, "History never repeats itself, but it often rhymes".
Today's geopolitical game around energy supplies to Europe and Azerbaijan's role in this process remind me of the mid-1990s. The beginning [of this process] was the conclusion of the "Deal of the Century" and the construction of the Baku-Tbilisi-Ceyhan oil pipeline. But the value of today's agreements around the doubling of Azerbaijani gas supplies to Europe is higher, to the extent that today Azerbaijan is not just one of the suppliers of energy carriers capable of reducing Europe's dependence on Russia's monopoly, but a full-fledged partner, which at the same time has approached the current energy "impasse" in Eurasia in a good "sporting shape", with self-sufficiency and with the constancy of its foreign policy priorities.
It should be noted that on July 18, 2022, Azerbaijan and the European Union signed a "Memorandum of Understanding on the Strategic Partnership between the European Union, represented by the European Commission and the Republic of Azerbaijan in the field of energy".
The document was signed by the President of the Republic of Azerbaijan - Ilham Aliyev and the President of the European Commission - Ursula von der Leyen.
The parties agreed to maintain bilateral trade in natural gas, including at the expense of exports to the European Union along the "Southern Gas Corridor" in a volume of not less than 20 billion cubic meters per year by 2027 in accordance with commercial expediency and market search.
The document notes that any further exports of natural gas to the European Union, beyond those volumes delivered to date, will require significant investment to expand the pipelines of the Southern Gas Corridor and to develop the extraction of natural gas.
In addition, the EU and Azerbaijan will promote the financing of the expansion of the Southern Gas Corridor pipeline network, taking into account the EU's climate policy and its REPowerEU strategy, including through cooperation with international financial institutions.
The Parties will also maintain conversion-ready infrastructure for the transport of renewable gases, including hydrogen and its derivatives. This means that the new infrastructure must be capable of transporting renewable and low-carbon gases, including hydrogen and its derivatives.
The parties seek to contribute to the development of mutually beneficial trade in natural gas, foreseeing in the future also trade in hydrogen, hydrogen derivatives and other renewable gases (biomethane and others), as well as in electricity produced from renewable energy sources (RES ).