EU and Azerbaijan sign strategic gas deal

[News_Editor]

EU and Azerbaijan sign strategic gas deal

2011-01-15 07:34:35 GMT+7 (ICT)

BRUSSELS (BNO NEWS) -- The President of the European Commission Jose Manuel Barroso and the President of Azerbaijan Ilham Aliyev on have signed a Joint Declaration on gas delivery for Europe in Baku, the European Union (EU) said.

In the declaration, Azerbaijan commits to supplying substantial volumes of gas over the long term to the EU, while Europe provides access to its market for them. This Joint Declaration is an important step in the realization of the Southern Gas Corridor and the diversification of Europe's energy supplies.

The Southern corridor entails the construction of several pipelines, such as Nabucco, ITGI, White Stream and TAP, aiming to bring gas from the Caspian Sea to Europe. Nabucco aims to bring gas to the border of Europe with a brand new pipeline, whereas TAP and ITGI requires the strengthening of existing infrastructure in non-EU countries.

In the next months, Azerbaijan will make a further decision on which of these pipelines to prioritize.

"This is a major breakthrough," said Barroso. "This agreement confirms Europe's direct access to gas from the Caspian basin, thus enabling the realization of the Southern Corridor."

"This new supply route will enhance the energy security of European consumers and businesses." Barroso added.

This is the first written commitment of Azerbaijan to supply gas to Europe. After visiting Azerbaijan, President Barroso and Commissioner Oettinger will travel to Turkmenistan to discuss political and energy issues.

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