Italy eyes “green energy” imports from Azerbaijan
Through new European green energy corridor / PHOTO

ECONOMICS  02 July 2024 - 17:20

As part of his visit to Milan, Azerbaijani Energy Minister Parviz Shahbazov has met with Italian Minister for the Environment and Energy Security Gilberto Pichetto Fratin to discuss expanding energy cooperation between the two countries.

The meeting highlighted Italy’s interest in importing “green energy” from Azerbaijan as part of a new strategic initiative, Caliber.Az reports per Azerbaijan’s Ministry of Energy.

The two ministers explored a broad range of topics related to energy collaboration, including Italy’s role as Azerbaijan’s key trade partner.

To date, out of the 37.9 billion cubic meters of gas supplied to Europe from Azerbaijan, 30 billion cubic meters have been received by Italy, positioning Azerbaijan among the top three gas suppliers to the Italian market.

Looking ahead, the gas supplies to Italy for this year are forecasted at 9.6 billion cubic meters. The planned expansion of the Trans Adriatic Pipeline (TAP) by 1.2 billion cubic meters starting in 2026 is expected to enhance cooperation on energy security and decarbonization efforts.

The two officials also discussed potential collaboration with Ansaldo Energia to provide equipment for a 1280 MW power plant and substations in Karabakh and East Zangazur.

In addition, they evaluated future opportunities for renewable energy supplies, with Fratin expressing Italy’s strong interest in sourcing "green energy" from Azerbaijan via the proposed "The Caspian-Black Sea-Europe green energy corridor."

Caliber.Az