BAKU, Azerbaijan, July 18. The EU and Azerbaijan seek to work together to enable the stable and predictable delivery of natural gas to the European Union in a way that is consistent with its long-term decarbonisation goals and builds on the partnership at between the parties and the principle of market-oriented pricing, Trend reports quoting the text of the new Memorandum of Understanding on a Strategic Energy Partnership signed today between the EU and Azerbaijan .
This objective includes the shipment of natural gas from the Caspian to the European Union and, potentially, to the Western Balkan countries, in order to support the conditions for the expansion of the Southern Gas Corridor in order to increase the diversification of the supply in accordance with commercial viability and market demand.
The parties stress the importance of long-term, predictable and stable contracts in order to guarantee security of demand for producers, exporters and owners of infrastructure, and security of supply for importers and buyers. The duration of the contracts must correspond to the role of natural gas in the European Union’s decarbonisation agenda while supporting the development economy with the necessary investments in export infrastructure. The European Union can offer aggregated demand-purchase systems to Azerbaijan, for example through the EU Energy Platform.
The parties aspire to support bilateral trade in natural gas, in particular through the export to the European Union, via the Southern Gas Corridor, of at least 20 billion cubic meters of gas per year by 2027, in accordance commercial viability and market demand.
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