BAKU, Azerbaijan, October 6. VNG AG intends to increase the volume of gas imports from Azerbaijan, the Senior Vice President, Head of Corporate Development, and Head of the VNG AG Representative Office, Oliver F. Hill, said at the German-Azerbaijani Strategic Partnership and Connectivity Conference, Trend's correspondent reports from the event.
According to him, VNG AG and SOCAR entered into a long-term partnership a few days ago, which provides for cooperation both in the supply of natural gas to Europe and in the area of the energy transition.
“The partnership includes both short-term and long-term components. The short-term component involves ensuring energy supplies to Europe, specifically natural gas. The long-term component, of course, involves transforming the energy sector from today’s fossil fuels to a decarbonized world,” he said.
Hill noted that the company has been importing gas from Azerbaijan since the beginning of this year.
“These are relatively small volumes at the initial stage; this is the first step. We would like to increase them; that is one of our goals, and it is also one of the components of our cooperation,” he added.
According to him, in the long term, the parties also intend to advance the energy transition between Europe and Azerbaijan.
“This means connectivity in terms of long-term decarbonization,” Hill explained.
He also noted that the company is open to securing long-term supplies for Azerbaijan for a period of 15 to 20 years.
"Our idea is that, perhaps, Azerbaijan could invest more in
renewable energy sources for its own needs, thereby freeing up
natural gas for export to Europe, generating revenue from this, and
then having the means to invest in infrastructure in Azerbaijan, as
well as, in the long term, expanding supplies to Europe, for
example, hydrogen or biomethane,” Hill said.
Meanwhile, the German-Azerbaijani Strategic Partnership and
Connections Conference, organized by the German-Azerbaijan Chamber
of Foreign Trade (AHK Azerbaijan), is being held in Baku.
Representatives of German and Azerbaijani state institutions, business circles, international financial institutions, and other organizations are participating in the event.
The conference is dedicated to the theme "Mobilizing financial resources for infrastructure, transport, logistics, green energy and digitalization along the Middle Corridor".
The agenda includes panel discussions and B2G roundtables on the development of the Middle Corridor, attracting investment, green energy, public-private partnerships, digital transformation, and cybersecurity. The conference aims to expand German-Azerbaijani economic cooperation, discuss investment opportunities along the Middle Corridor, and form new partnerships in the fields of infrastructure, energy, transport, logistics, and digitalization.
