By Al Jazeera Tv

Copyright trend

BAKU, Azerbaijan, October 2. Azerbaijan has
already made significant contributions to European energy security,
said President of SOCAR Rovshan Najaf as he addressed the opening
session of the KAZENERGY Eurasian Forum in Astana, Trend reports.

“We actually increased our gas supplies to Europe by around 60%
without spending any money from Europe or the EU. But in order to
have all this on a sustainable base and to have it for more
volumes, we need to expand the gas pipeline. And for that, we need
assurance for long-term contracts from the buyers in Europe and
support of the financial institutions of the European Union and
Europe in funding it,” he said.

Najaf underlined the uncertainty in Europe’s stance on gas,
saying: “Here comes some sort of position that, yes, we need the
gas, but some people say until 2030, others tell maybe until 2035.
But we cannot fund it, we cannot finance any hydrocarbon projects.
And in that sense, in this business, you don’t invest for just one
year of supply of the product. Because, as a gas industry, you need
long-term contracts in order to invest in your upstream business in
order to supply that gas”.

The president reiterated SOCAR’s readiness to respond to
Europe’s needs, provided there is a clear commitment: “We are,
again, standing ready to increase the volumes of gas export to
Europe, but subject to cooperation from European partners. First of
all, ensuring long-term contracts. Second, investing together with
us in the expansion of the infrastructure”.

Recalling Europe’s earlier requests, he noted: “Around three
years ago, our partners from Europe requested us to increase the
supply of the gas. And we agreed to double our exports to Europe,
but subject to the support of our European partners in financing
the expansion of the pipelines, of the infrastructure. Because the
current infrastructure, we call the Southern Gas Corridor, was
finally funded by Azerbaijan and its partners. And we take all the
risks of the implementation of this project, and until 2022, we
were not thinking about expanding it. We did our job, we were
exporting our gas. But when our partners in Europe requested for
more gas, it was a very critical time for them”.