Europe

Azerbaijani gas transported to Europe thanks to President Ilham Aliyev



BAKU, Azerbaijan, October 2. The opening
ceremony of the Greece-Bulgaria Interconnector (IGB), another route
to transport gas to Europe from Azerbaijan, which has proven itself
as a reliable energy supplier, was held on October 1.

Azerbaijani President Ilham Aliyev, Bulgarian Prime Minister
Galab Donev, Bulgarian President Rumen Radev, Serbian President
Aleksander Vucic, Northern Macedonian President Stevo Pendarovski,
European Commission President Ursula von der Leyen, Greek Prime
Minister Kyriakos Mitsotakis and Romanian Prime Minister Nicolae
Ciuca participated in the event.

The gas interconnector started commercial operation at 7 a.m. on
October 1. The commissioning of the gas pipeline coincided with the
first day of the new gas year and the beginning of the heating
season. Bulgaria will be able to initially receive contracted 1
billion cubic meters of gas from Azerbaijan through IGB, the
throughput capacity of which is 3 billion cubic meters per year,
with the possibility of increasing it by another 2 billion cubic
meters.

Co-owner of the Dutch consultancy VEROCY and an expert on
political risk and energy Cyril Widdershoven told Trend that the launch of
IGB is important amid the serious pressure on energy security.

“The importance of establishing new interconnections is now
clear, as the security of energy supply is under serious pressure.
Expanding energy interconnections in Europe, especially in the
Balkans and Southeast Europe, is a necessity. The lack of
interconnections is still a serious threat to the uninterrupted
supply of oil, gas and even electricity,” he said.

Widdershoven noted that the presence of interconnectors allows
stronger common ties and provides possible additional routes by
which energy resources can reach different markets in the
region.

“Unlike Northwest Europe, which has a large number of
interconnectors, the region of Southeast Europe is still less
developed, so it’s currently at high risk. The region’s energy map
is also changing for the better, as more interconnectors will
increase the supply needed in the rest of Europe,” he
explained.

S&P Global Commodity Insights energy analyst Ornela
Figurinaite stressed that the IGB will be able to cover most of
Bulgaria’s gas demand in the winter season and will allow gas
exports to neighboring countries.

She noted that the launch of the interconnector between Greece
and Bulgaria will provide much-needed diversification and security
of gas supplies to a region that has historically been heavily
dependent on Russian gas.

“Since gas supplies from Russia to Bulgaria stopped in May and a
new contract has not yet been agreed upon, Bulgaria’s gas storage
capacity (approximately 0.5 billion cubic meters) is not enough to
cover the heating needs of the winter season. Considering that
during the heating season Bulgaria’s gas consumption increases to
10 million cubic meters per day, 8 million cubic meters per day of
additional storage capacity which will be available through IGB
will be able to cover most of the demand in winter and ensure
sufficient filling of storage in summer months,” Figurinaite
added

The launch of this project is another example of the fact that
Azerbaijan always keeps its word regardless of the circumstances.
The contract on gas supply through IGB was signed in 2013, then
there was a completely different market configuration. And now,
when the energy map of Europe is changing amid the crisis,
Azerbaijan ensures uninterrupted supply of energy resources, and in
addition, is ready to increase exports even more in a short time.
Azerbaijan remains a reliable partner in both good and bad
times.



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