BAKU, Azerbaijan, October 2. Azerbaijan has already made significant contributions to European energy security, said President of SOCAR Rovshan Najaf as he addressed the opening session of the KAZENERGY Eurasian Forum in Astana, Trend reports.
"We actually increased our gas supplies to Europe by around 60% without spending any money from Europe or the EU. But in order to have all this on a sustainable base and to have it for more volumes, we need to expand the gas pipeline. And for that, we need assurance for long-term contracts from the buyers in Europe and support of the financial institutions of the European Union and Europe in funding it," he said.
Najaf underlined the uncertainty in Europe’s stance on gas, saying: "Here comes some sort of position that, yes, we need the gas, but some people say until 2030, others tell maybe until 2035. But we cannot fund it, we cannot finance any hydrocarbon projects. And in that sense, in this business, you don't invest for just one year of supply of the product. Because, as a gas industry, you need long-term contracts in order to invest in your upstream business in order to supply that gas".
The president reiterated SOCAR’s readiness to respond to Europe’s needs, provided there is a clear commitment: "We are, again, standing ready to increase the volumes of gas export to Europe, but subject to cooperation from European partners. First of all, ensuring long-term contracts. Second, investing together with us in the expansion of the infrastructure".
Recalling Europe’s earlier requests, he noted: "Around three years ago, our partners from Europe requested us to increase the supply of the gas. And we agreed to double our exports to Europe, but subject to the support of our European partners in financing the expansion of the pipelines, of the infrastructure. Because the current infrastructure, we call the Southern Gas Corridor, was finally funded by Azerbaijan and its partners. And we take all the risks of the implementation of this project, and until 2022, we were not thinking about expanding it. We did our job, we were exporting our gas. But when our partners in Europe requested for more gas, it was a very critical time for them".