BAKU, Azerbaijan, June 7. Azerbaijan plays a key role in the diversification of energy sources and transport routes, Trend reports with reference to a statement issued by the European Union.
The statement says that Azerbaijan is an important partner for the EU.
“We have an interest in continuing and strengthening our good cooperation, particularly on energy, reforms, trade, and investments. Connectivity and energy are key elements of the EU’s Economic and Investment Plan, which aims to mobilize substantial public and private investments in Azerbaijan, amounting to up to €2 billion. Azerbaijan plays a key role regarding connectivity, in developing the Middle Corridor linking Europe to Central Asia and beyond and in the diversification of energy sources and transport routes, notably via the Southern Gas Corridor. In July 2022, a Memorandum of Understanding on a Strategic Partnership in the Field of Energy was signed in Baku,” says EU.
Moreover, according to the statement, negotiations for a new comprehensive EU-Azerbaijan agreement are ongoing, and the EU is committed to continuing the negotiations with a view to finalizing them soon.
As a country strategically located at the crossroads of Europe and Asia, Azerbaijan has emerged as a key player in the energy sector. With vast reserves of natural resources, notably natural gas and oil, Azerbaijan has successfully developed and implemented projects that contribute to the energy security and diversification efforts of European countries.
One of the notable projects is the Southern Gas Corridor, a major infrastructure initiative that aims to transport Caspian gas to Europe. At the heart of this corridor is the flagship project, the Trans Adriatic Pipeline (TAP), which connects Azerbaijan's Shah Deniz gas field to Italy via Greece and Albania. This pipeline diversifies Europe's energy sources by providing a new supply route that bypasses traditional gas suppliers, ensuring greater energy security and reducing dependence on a single source.
Furthermore, Azerbaijan has been actively involved in enhancing transport connectivity in the region. The country has invested in modernizing and expanding its transportation infrastructure, including roads, railways, and ports. The Baku-Tbilisi-Kars railway, for instance, connects Azerbaijan with Georgia and Türkiye, creating a vital link for the transportation of goods and people between Europe and Asia. This railway has significantly improved the connectivity and trade opportunities for countries along its route, strengthening regional integration and promoting economic growth.
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