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FinancialNews
21-07-22
EU needs Turkey’s consent for additional gas supply from Azerbaijan
(MENAFN) The EU is going to have to get Turkey's approval for its mission to obtain enough natural gas provisions before winter via getting consent from Ankara for additional gas provisions from Azerbaijan.
In the wake of the latest memorandum of understanding (MoU) inked among the EU and Azerbaijan to increase natural gas purchases by double, a deal inked 10 years ago among Ankara and Baku for provisions through the Trans-Anatolian Natural Gas Pipeline (TANAP) specifies that Turkey has the initial right to extra pipeline volume.
European Commission (EC) leader Ursula von der Leyen as well as EC energy commissioner Kadri Simson inked a MoU late on Monday throughout their visit to Azerbaijan to increase the present natural gas purchases from Baku by double.
Europe, which is seriously dependent on Russian gas, is at work to substitute Russian supplies and as stated by von der Leyen is “moving towards more reliable energy suppliers."
To discourage the 155 billion cubic meters of natural gas from Russia yearly, Europe needs a volume rise in the Southern Gas Corridor to buy much more gas from Azerbaijan.
MENAFN21072022000045014228ID1104566558
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