Azernews.Az

Friday May 27 2022

Azerbaijan to develop its energy resources by focusing on promising gas fields - FM

23 March 2021 16:31 (UTC+04:00)
Azerbaijan to develop its energy resources by focusing on promising gas fields - FM

By Trend

Azerbaijan will continue to develop its energy resources by focusing on promising gas fields, Jeyhun Bayramov, Azerbaijani Minister of Foreign Affairs said in an interview with Italian Agenzia Nova, Trend reports.

During an interview, Bayramov said that the construction of TAP has reached its conclusion thanks also to the strong determination and support of the Italian authorities.

An important role in Italian-Azerbaijani relations was played by TAP, Bayramov said.

“Natural gas flow to Italy, as well as to Bulgaria and Greece, via TAP commenced on 31st December 2020. The operationalization of the Southern Gas Corridor (SGC) is a practical outcome of the strategic partnership with the EU,” Bayramov said noting that Azerbaijan has made the biggest financial commitment in the construction of the SGC.

“The SGC contributes to the EU energy security as well as energy transition objectives in a concrete, clear and predictable manner by bringing alternative gas volumes to the EU from alternative sources. It helps to enhance competitive price setting in the natural gas market of the EU. This milestone achievement is a result of rigorous efforts of and effective coordination between all SGC stakeholders in the production, transit and consumption chain. The realization of this megaproject was not easy. We have gone through hardships and difficulties in laying the final leg of SGC in Italy. We overcame all hurdles due to the strong determination and support of the Italian authorities”, said the Azerbaijani minister, according to whom “time has proven that the Italian side was right in supporting TAP and working together with Azerbaijan and all other partners to make this project a success. Completion and full operationalization of the SGC is not the end of the story. We will continue to develop our energy resources by focusing on promising gas fields”.

Regarding the opportunities for energy supplies to the EU, the minister talked about the Memorandum of Understanding on joint exploitation of the Dostlug field in the Caspian Sea signed between Azerbaijan and Turkmenistan on January 21, 2020.

“This is the beginning of a new and important stage in the wider regional cooperation. We are ready to embark on a new journey with our partners in Europe to deliver natural gas volumes from Azerbaijan to Western Balkans. However, it should be noted that the energy companies are now diversifying their investments from fossil fuels towards renewables in the fight against climate change”, said Bayramov.

“We do acknowledge that with our potential aspirations in further fostering energy and climate goals comes great responsibility. We have launched the “Green Energy” concept in the liberated territories of Azerbaijan, which will allow us to move steadily to the cleaner energy mix, such as hydro, solar and wind power. Our clear vision supported by an enabling policy framework creates incentives for foreign investments in renewables”, said the minister. “We have already established a legal framework for cooperation with Italy in the field of green energy and renewables. The Memorandum of Understanding between the Ministry of Energy of Azerbaijan and the Ministry of Economic Development of Italy on cooperation in the field of energy, the Memorandum of Understanding between the Ministry of Energy of Azerbaijan and Ansaldo Energia, and the Cooperation Agreement between SOCAR and Snam S.p.A was signed in 2020”, recalled the minister of foreign affairs of Azerbaijan.

---

Follow us on Twitter @AzerNewsAz

Loading...
Latest View more