Brussels: Azerbaijan will supply Europe with 12 billion cubic meters of gas | Financial issues

Brussels: Azerbaijan will supply Europe with 12 billion cubic meters of gas |  Financial issues

European Commission President Ursula von der Leyen announced the agreement with Azerbaijani President Aliyev on Monday. The country will “double” the supply the moment Europe craves gas.

The supplier is set to help bridge a gap created after the European Union announced it would not buy fuel from Russia, following President Putin’s bloody raid on neighboring Ukraine, through the current southern corridor of pipelines in Europe.

Von der Leyen added on Monday that Russia was not a reliable supplier of gas even before the invasion. Azerbaijan will strengthen ties and become a “critical” energy partner for Europe, she says, to ensure that the eurozone becomes climate-neutral.

The head of the European Commission said that the supply from Azerbaijan would help “compensate” for restrictions on gas imports from Russia. It helps reduce impotence, but cannot fully absorb it.

The European Union and Azerbaijan signed an agreement for future cooperation. Because the resource from Central Asia also has great potential for renewable energy, especially from offshore wind farms and green hydrogen. Von der Leyen announced that Europe would help the country in this matter.

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