The third meeting of High-Level Energy Dialogue established to develop a strategic energy partnership between Azerbaijan and the European Union (EU) was held in Brussels, the Kingdom of Belgium, informs via Ministry of Energy.

At the meeting held under the leadership of Energy Minister Parviz Shahbazov and European Union Commissioner for Energy and Housing Dan Jorgensen, the Ministry of Energy, SOCAR, AREA, the Directorate General for energy of the European Commission (DG ENER), the European Investment Bank (ADB), the European Bank for Reconstruction and Development (EBRD), as well as the CESI company were represented.

At the meeting, discussions were held on the priorities of the Energy Partnership for the Southern Gas Corridor and energy transition. The prospects for Azerbaijan's gas production and export, the current situation with the EU's gas supply and the opportunities for financing gas transportation infrastructure within the EBRD's strategy on the energy sector were considered.

It was noted that last year gas supplies from Azerbaijan to Europe increased by 9.5% to 13 bcm, and this year 50% of exports are intended for Europe. According to existing contracts, it is expected that 8 bcm of additional gas will be produced, as well as 1.5 bcm of gas will be saved at the expense of solar and wind power plants with a capacity of 2.7 GW by 2030. Timely and significant increase in transportation and additional supplies of these volumes requires investments in pipeline expansion, field development projects, long-term commercial contracts and mobilization of financial instruments.

The development of renewable energy capacities in Azerbaijan, the implementation of the Caspian-Black Sea-European Green Energy Corridor projects and other green energy interconnectors were also discussed. Projects on the green energy export were evaluated within the TEN-E Regulation  and the Global Gateway strategy, as well as the existing financing instruments of the European Investment Bank (EIB) and EBRD. It was noted that the green energy production and its supply to Europe through various routes and interconnectors are the main strategic priorities of our modern energy policy determined by President Ilham Aliyev. These projects are important for Europe in terms of diversification of energy sources, as well as geostrategic interests in Central Asia and the Middle Corridor.

Energy Minister Parviz Shahbazov said: "In light of the current challenges, it is time to show a pragmatic approach to increasing gas supplies from Azerbaijan as a reliable partner and take concrete and decisive steps to provide financial and political support to the development of relevant interregional energy infrastructures. At the same time, the provision of the Caspian-Black Sea-European Green Energy Corridor with the status of a joint interests project (PMI) and its inclusion in the Ten-Year Network Development Plan (TYNDP) is of critical importance for the successful development of this strategic initiative. We call on the relevant structures of the European Union to strengthen the necessary support in this direction and advance this initiative as a priority project.”

Commissioner Dan Jorgensen said that this dialogue is an indicator of our close cooperation in the energy sector, and such a dialogue is conducted with very few countries. We highly appreciate the efforts of Azerbaijan in this regard. Achieving energy security requires risk aversion: "Energy infrastructure is key to advancing our energy transition. We are ready to explore the opportunities for increasing energy integration between the South Caucasus region and the European region. This can also be done through the mobilization of guarantees and mixed financial instruments.”

During the discussions, the sides also exchanged views on energy efficiency and measures taken within the framework of reducing methane emissions.

It should be noted that the energy dialogue between Azerbaijan and the EU has been carried out since 2022.