Baku: “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 Azeri-Press News Agency, Kamal Abbasov emphasized that projects aiming to meet Europe’s growing gas needs require time, finance, and clear contracts. He stated, “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.”
The Deputy Minister pointed out that this situation could present a real market opportunity for the European Union. In light of the ongoing energy crisis associated with Russia, Europe’s demand for natural gas remains significant: “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.”
He further highlighted that the main challenge is related to infrastructure. With the Southern Gas Corridor’s main routes already operating at full capacity, new investments are necessary to transport additional gas. Abbasov stated, “Infrastructure must be expanded to deliver additional gas to Europe. This requires coordinated support from the EU to overcome technical and political challenges.”