Media: Access of Azerbaijan's natural gas to EU market will create opportunities for all partners

The expansion of the pipeline would create opportunities for all partners involved as Azerbaijan's energy will have greater access to the EU market, said an EU official, Report informs, citing China Daily.

The EU is working hard to find alternatives to Russian energy supplies following the outbreak of conflict in Ukraine, the consequences of which have exposed the continent's fragile energy security.

Previously, Russia had provided about 40 percent of the EU's gas needs, but that has fallen to less than 10 percent this year, according to the International Energy Agency.

In July, the European Commission expressed its intent, in an agreement with Azerbaijan, to double imports of Azeri natural gas to at least 20 billion cubic meters a year by 2027, and Azerbaijan has committed to raising supplies by 40 percent to 11.2 billion cubic meters this year.

In a speech at the time, President of the European Commission Ursula von der Leyen called Azerbaijan a "reliable partner" and noted that the country also has "tremendous potential in renewable energy" and that the EU intends to cooperate with it on solar and wind energy production.

Last year, more than 8 billion cubic meters of Azeri gas was brought into European countries via Italy through the Trans-Adriatic pipeline, which is the final leg of the Southern Gas Corridor pipeline network, according to the EU.

The Financial Times reported that the total investment needed in the Southern Gas Corridor, which began supplying gas to Italy in 2020, was about $40 billion.