"Long-term contracts and financial support are essential to meet Europe's additional gas demand," Deputy Energy Minister Kamal Abbasov said during a speech at the Baku Energy Forum, APA-Economics reports.
According to him, such projects require time, finance and clear contracts: "If additional demand for gas transportation to Europe arises, its implementation may be possible with long-term contracts, support mechanisms and financial instruments that will reduce risks. If this is ensured, it is possible for Azerbaijan to meet additional gas demand for Europe."
Kamal Abbasov noted that this could be a real market opportunity for the European Union. Against the backdrop of the energy crisis related to Russia, Europe’s demand for natural gas remains high: “Support for the new gas production industry should be provided and this should be included in the EU’s research and investment priorities. But without practical support — in particular, financing, contracting, and infrastructure — this cooperation will be difficult. This is especially important for Central and Eastern Europe.”
The Deputy Minister emphasized that the main challenge in this direction is related to infrastructure. The main routes of the Southern Gas Corridor are already full, and new investments are needed to transport additional gas: “Infrastructure must be expanded to deliver additional gas to Europe. This requires coordinated support from the EU to overcome technical and political challenges.”
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