Aliyev said Europe asked for more Azerbaijani gas and supplies jumped 65%, but funding and pipeline limits could slow further growth.
Since the start of Russia’s full-scale invasion of Ukraine, Azerbaijan’s natural gas supplies to the EU have risen by 65%, and Azerbaijan is ready to increase production further.
This was stated by the President of Azerbaijan Ilham Aliyev during a conversation with journalists at the 4th Global Media Forum in Shusha.
Since the start of Russia’s war, demand for Azerbaijani gas has surged. The European Commission asked us to increase production as quickly as possible. And we did. Gas supplies to the European Union have risen by 65%, and they will continue to grow
– Ilham Aliyev
According to the president, Azerbaijan has the potential to further increase production thanks to the launch of the new ACG Deep Gas field, ramping up production at existing fields, and developing renewable energy sources, which will allow additional volumes of gas to be released for export.
Currently, the main obstacle is the insufficient capacity of the existing gas transportation infrastructure.
It is necessary to expand the existing transport infrastructure. But the obstacle is Europe’s Green Deal. European banks are reluctant to fund projects related to fossil fuels. So the question arises: where will the funds come from to increase the capacity of gas pipelines
– Ilham Aliyev
The president also stressed Baku’s interest in long-term agreements with European partners that will allow the investments in increased production to be recouped.
In order to significantly boost production, large investments are required. If at some moment they tell us, “Thank you, we no longer need your gas,” what then? That is why we need long-term contracts
– Ilham Aliyev
In addition, Azerbaijan is working on diversifying energy resource exports and has already begun supplying gas to Syria, considering the possibility of reaching Middle Eastern markets through Syria.
In the context of energy geopolitics, Baku focuses on long-term contracts and modernization of infrastructure to ensure stable gas exports to the EU and other regions, regardless of short-term demand fluctuations.
In Shusha, during the forum, they discuss the role of media in promoting peace, restoring trust, and countering misinformation, as well as prospects for cooperation in the energy sector and enhancing supply security for European consumers.
All these initiatives reflect Azerbaijan’s intention to continue increasing gas export volumes and to provide Europe with reliable energy supplies, while developing various supply channels and improving the transportation infrastructure.