Azerbaijan may supply 25% of Italy's gas needs with increased TAP volumes

As of May 1 of this year, more than 12 billion cubic meters of natural gas were transported to Europe through the Trans-Adriatic Gas Pipeline (TAP), of which more than 10 billion cubic meters are accounted for by Italy.

Report informs that Azerbaijani Foreign Minister Jeyhun Bayramov has made the relevant remarks in an interview with the Italian Agenzia Nova agency.

“In 2022, we plan to supply 9.5 billion cubic meters of Azerbaijani gas to Italy. TAP currently provides approximately 10% of Italy's gas needs. With the full expansion of the gas pipeline and doubling its capacity to 20 billion cubic meters, TAP will be able to meet 20-25% of Italy's gas needs,” the minister said.

According to him, the strategic economic partnership between Azerbaijan and Italy is mainly based on the energy sector, and our country is the main supplier of oil and, since last year, one of the largest suppliers of natural gas for Italy: "The southern gas corridor and its main part - the TAP project represent an important factor in strengthening energy security, as well as maintaining stable prices in the Italian gas market.”

As Bayramov emphasized, in general, the European Union and some of its member states showed interest in increasing the supply of energy resources from Azerbaijan even before the events in Ukraine: “There were requests from some countries regarding the expansion of the Southern Gas Corridor to the Western Balkans in order to facilitate the replacement of coal with gas in energy consumption and contribute to the energy transition. This is all thanks to the fact that Azerbaijan has established itself as a reliable partner, contributing for many years to the energy security of Europe and the diversification of sources and supply routes. Of course, the transportation of Azerbaijani gas to the wider European space means attracting additional investments, and we hope for the support of the European Union and member states in this matter.”

Azerbaijan, which has experience in the export of electricity, has the potential to supply electricity to the European Union, the minister said.

“Currently, Azerbaijan, in addition to traditional energy resources, is evaluating cooperation with the European Union in the field of hydrogen and renewable energy sources. The main goal is to increase the share of renewable energy in the country's total energy balance to 30% by 2030. Concrete steps are being taken to develop wind energy in the sea and create a "Green Energy Zone" in the territories of our country liberated from occupation. Therefore, Azerbaijan can expand its role as a supplier of oil, gas and electricity through the export of renewable energy. As you can see, Azerbaijan pursues commercial interests in the global energy market and does not set itself the goal of replacing or competing with the market share of other countries,” D. Bayramov continued.