• $
  • €
  • ₽
  • ₺
  • £

Azerbaijan to negotiate increase in gas supplies to Europe in Brussels next week

Azerbaijan to negotiate increase in gas supplies to Europe in Brussels next week
14.07.2022 14:30
EU energy commissioner Kadri Simson is travelling to Baku later this month, reported from EUobserver.

"We have been working closely together to increase deliveries," an EU spokesman said.

Before that, the officials of both parties will hold talks in Brussels on July 19.

The draft text, dated 11 July, which could be still subject to changes, is part of the EU efforts to reduce its dependence on Russian gas after the war in Ukraine.

They "aspire" to "bilateral trade of natural gas ... of at least 20 billion cubic metres [bcm] of gas annually by 2027, the document says.

The Trans Adriatic Gas Pipeline (TAP), which transports Azerbaijani natural gas to Europe, has reached its maximum capacity over the past few days. This means the supply of 33 million cubic meters of natural gas daily, which averages about 12 billion cubic meters of gas per year. A total of 10.5 billion cubic meters of these volumes will be transported to Italy. The long-term goal is to double the capacity of the pipeline.

The construction of TAP was completed in October 2020. The total length of TAP is 878 km, of which 550 km passes through the northern part of Greece, 215 km through the territory of Albania, 105 km along the bottom of the Adriatic Sea and 8 km through the territory of Italy.

The TAP AG consortium is considering three scenarios for increasing the pipeline capacity: limited - up to 14.4 billion cubic meters, partial - up to 17.1 billion cubic meters and full - up to 20 billion cubic meters per year.

Azerbaijani gas supplies to consumers in Italy, Greece and Bulgaria via TAP began on December 31, 2020.

www.anews.az
Similar news
Similar news
Crypto Market Dips as Bitcoin Approaches $78,000 Mark
Business 10:30
Crypto Market Dips as Bitcoin Approaches $78,000 Mark
32 AI-powered teams compete in virtual football tournament
Business 15:41
32 AI-powered teams compete in virtual football tournament
Azerbaijan central bank plans no new restrictions on Bank Melli Iran
Business 15:00
Azerbaijan central bank plans no new restrictions on Bank Melli Iran
Azerbaijan central bank backs banks’ limits on card transactions
Business 14:30
Azerbaijan central bank backs banks’ limits on card transactions
Reach your goal, earn extra interest: A new deposit from Yelo Bank
Business 14:17
Reach your goal, earn extra interest: A new deposit from Yelo Bank
Net Remittance Inflows to Azerbaijan Surge 70% to $830.5 Million
Business 13:30
Net Remittance Inflows to Azerbaijan Surge 70% to $830.5 Million
Azerbaijan’s central bank cuts 2026 inflation forecast to 5.9% from 6.1%
Business 13:00
Azerbaijan’s central bank cuts 2026 inflation forecast to 5.9% from 6.1%
Natural Gas Futures Edge Lower on NYMEX
Business 12:30
Natural Gas Futures Edge Lower on NYMEX
Central Bank of Azerbaijan Holds Refinancing Rate Steady at 6.5%
Business 11:30
Central Bank of Azerbaijan Holds Refinancing Rate Steady at 6.5%
Anews TV

Our official Youtube channel

Subscribe