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EU Set to Double Gas Imports from Azerbaijan by 2027

NATURAL GAS

The EU signed a memorandum of understanding today to eventually double gas imports from Azerbaijan to 20 billion bcm by 2027.

  • Azerbaijan is already increasing deliveries of natural gas to the EU from 8.1 billion cubic metres in 2021 to an expected 12 bcm in 2022, the Commission said.
  • “The EU has therefore decided to diversify away from Russia and to turn to more reliable, trustworthy suppliers. And I’m glad to count Azerbaijan among them.” European Commission President Ursula von der Leyen said.
  • The EU has boosted efforts to seek alternatives to Russian gas, spurred by persistent difficulties receiving full allocation on Nord Stream 1 in recent months. The key gas pipeline between Russia and Germany is currently undergoing maintenance and it is feared it may not turn back on in a worst-case scenario.
Energy BulletsCommodities
Energy BulletsCommodities

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