Ilham Aliyev: Doubling gas exports to Europe requires financial resources and approval of shareholders

"All our energy projects, including those related to natural gas transportation, are based on existing volumes. We signed contracts with European companies that bought gas from Azerbaijan many years ago. Then we invested in pipelines. We started transporting gas to Europe only a year and a half ago. On the first day of 2021, we began transporting gas to Italy. So, our plans are fully implemented," Azerbaijani President Ilham Aliyev said in an interview with the Italian newspaper Il Sole 24 Ore's reporter Roberto Bongiorni on September 2 in the city of Cernobbio, Report informs.

The head of state also commented on his meeting with European Commission President Ursula von der Leyen:

"We discussed the issue of increasing production in a short time. Doubling exports to Europe is a big deal. Investments should be made here, and technical capabilities should be expanded. Because the capacity of our TAP pipeline, which currently transports gas to Europe, is 10 billion cubic meters. That is, we must bring it up to 20 billion cubic meters. It requires funding and shareholder approval."