The confederate Gas Corridor, comprising the South Caucasus Gas pipeline, TANAP and TAP, operates with full power and needs to be expanded," stated president Ilham Aliyev at the 11th ministerial gathering of the Advisory Council on the confederate Gas Corridor and the 3rd renewable energy meeting.
According to him, additional financial resources are needed to this end and global institutions should revise their policy to limit investment in fossil fuel projects.
Currently, Azerbaijan supplies natural gas to 12 countries, including 8 European Union countries," Aliyev added, pointing out that the supply scope would grow by building and modernising Europe's gas distribution networks.
In Baku, Azerbaijan, Georgia, Turkey and Bulgaria signed a memorandum on the agreement on "green" energy.
Azerbaijani energy minister Parwiz Szachbazov pointed out that this paper opens the way to creating a fresh "green" energy corridor for the export of renewable energy.
Deputy Minister of Economy of Georgia Wachtang Cincaga stressed that the agreement fosters the improvement of cross-border electricity infrastructure.
Turkey's energy minister Alparslan Bayraktar pointed out the large importance of the task for the region's energy security.
The energy minister of Bulgaria, Mr Stankov, added that energy transformation requires reliable and accessible energy sources, which makes the partnership of 4 countries an crucial step in this direction.
The agreement provides for cooperation in the improvement of investment projects, in the improvement of electricity infrastructure and integration into the ENTSO-E strategy in order to grow the green energy trade, says Trend.
Source: ekhokavkaza.com
Study Bulletin: BIS
