Parviz Shahbazov: Azerbaijan and EU need to expand cooperation in gas sector

Azerbaijan's Minister of Energy, Parviz Shahbazov, has emphasized the need to expand cooperation with the European Union in the gas sector.

According to Report, he made this statement at a press conference following the 11th meeting of the Southern Gas Corridor Advisory Council and the 3rd meeting of the Green Energy Advisory Council.

According to the minister, when the energy cooperation document between the EU and Azerbaijan was signed in 2022, it was assumed that the development of the Southern Gas Corridor would continue in its second phase under the same conditions as the first. "In the first phase, 25-year contracts were signed, financial guarantees were provided, and support was ensured," he noted.

Shahbazov emphasized that during discussions on the second phase, there were no indications from the EU of a refusal to provide similar guarantees.

"However, the European Union's policy in this direction has changed. The project has not even been granted the status of one representing mutual interest. European financial institutions have refused to finance it," he added.

The minister stressed that the implementation of both phases requires long-term contracts and financial guarantees.