The tenth Southern Gas Corridor and second Green Energy Advisory Council Ministerial Meetings took place in Baku in Azerbaijan
ADVERTISEMENTPlans to expand the Southern Gas Corridor and provide more gas for Europe have been discussed in Azerbaijan.
23 countries in the Southern Gas Corridor council met in Baku to discuss the capacity of gas supply expansion, seen as a crucial route of gas supply diversification for the EU and its neighbouring countries.
High on the agenda was the exploration of joint goals to ensure long-term energy security, diversification of supply, and a transition to green and renewable energy.
"We do it not because we lack traditional resources, but because we want to contribute, using the financing, using the revenues which we get from oil and gas sales to invest in renewables and to create a common understanding about the need for that," said Azeri President Ilham Aliyev.
The strategic energy partnership between Azerbaijan and the EU was also discussed, along with the achievements and next steps in the operation and development of the Southern Gas Corridor.
Last year, Azerbaijan increased its gas exports by nine per cent up to 22 billion cubic metres. Its main buyers are currently Italy, Greece, Romania, Hungary and Bulgaria.
"There are many, new, partner countries who are willing to receive additional volumes of natural gas, even though we are transitioning away from fossil fuels," said Kadri Simson, European Commissioner for Energy.
"But, this takes some decades. Now we want to establish also the futureproof cooperation," she added.
Collaboration across the industry is seen by many as key to its further development for the foreseeable future.