European Union signs a deal to double gas imports from Azerbaijan.
Tuesday, July 19, 2022

European Union signs a deal to double gas imports from Azerbaijan.

 The EU reached a deal to double natural gas imports from Azerbaijan in a bid to help replace Russian fossil fuels amid a worsening energy crisis following Putin’s invasion of Ukraine. To boost the shipments, the capacity of the Southern Gas Corridor, a network of pipelines connecting the Caspian Sea with Europe, will be increased from 8.1 to 12 billion cubic meters, according to a memorandum of understanding signed in Baku. In a few years, it will reach 20 billion cubic meters, European Commission President Ursula von der Leyen told reporters. The EU is rushing to secure new gas supplies to end dependence on Russia. The agreement also aims to use Azerbaijan’s potential in offshore wind and green hydrogen, in line with the European Green Deal, a massive sustainable overhaul with the goal of climate neutrality by 2050.

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