BAKU, Azerbaijan, February 3. Azerbaijan eyes signing new gas supply contracts, Azerbaijani Minister of Energy Parviz Shahbazov said at today's press conference following the results of the 9th Southern Gas Corridor Advisory Council Ministerial Meeting and the 1st Green Energy Advisory Council Ministerial Meeting, Trend reports.
According to him, Azerbaijan has sufficient resources to meet the natural gas needs of Europe.
“The country has partly started signing new gas supply contracts with customers, even relevant memorandums have been signed. For example, agreements on gas supplies were signed as part of Azerbaijani President Ilham Aliyev's visit to Hungary, and this process is successfully continuing,” he said.
Azerbaijan commenced transporting natural gas to Europe via the Southern Gas Corridor on December 31, 2020. The corridor delivers gas from the Caspian Sea region to European countries through Georgia and Türkiye.
This major project aims to diversify the energy supply routes and sources, thereby contributing to the strengthening of Europe's energy security. The project cost amounted to $33 billion, while it was predicted for $45 billion.