Reuters: EU, Azerbaijan plan gas deal in pivot away from RussiaJuly 15, 2022 - 16:06 AMT PanARMENIAN.Net - The European Commission has proposed to EU countries a deal with Azerbaijan to increase imports of natural gas and support the expansion of a pipeline to do this, according to a draft document seen by Reuters. The draft memorandum of understanding, which needs approval from the governments involved and could still change, is part of European Union efforts to slash reliance on Russian gas following the war in Ukraine. "The Sides aspire to support bilateral trade of natural gas, including through exports to the European Union, via the Southern Gas Corridor, of at least 20 billion cubic metres of gas annually by 2027, in accordance with commercial viability and market demand," said the document, dated July 11. The Commission declined to comment. EU energy commissioner Kadri Simson is scheduled to visit Azerbaijan later this month. The Trans-Adriatic pipeline, the final leg of the Southern Gas Corridor pipeline network, last year brought more than 8 bcm of Azeri gas into European countries such as Italy. The draft says both sides will encourage financing the expansion of that network to increase deliveries to Europe, adding that such investments should be able to carry low-carbon gases in future to avoid locking in years of planet-warming emissions. An uptick in deliveries would also require Azerbaijan to expand its domestic gas production. The draft highlighted the importance of "long-term, predictable and stable contracts" to provide security to gas producers. But it also said future gas contracts would need to align with the EU's climate change targets, which according to Brussels will require gas use to plummet, particularly after 2030. Both sides should increase action to curb emissions of methane, a potent greenhouse gas, in their supply chains, including through incentives to collect gas that would otherwise leach into the atmosphere, it said. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. Armenian Economy Minister to make trip to UAE May 20-22 A delegation led by Minister of Economy Gevorg Papoyan will travel to the UAE capital of Abu Dhabi on May 20-22 Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. |