Romania notes key role of gas contract with Azerbaijan”/>
Source: Trend International Information Agency
Gas contract with Azerbaijan is critical for Romania.
As Day.Az reports, the Minister of Energy of Romania announced this in an exclusive interview with Trend. Sébastien-John Bourdouge.
“Last year, gas system operators from Romania, Bulgaria, Hungary, Slovakia and Azerbaijan, together with their respective energy ministers, signed an important memorandum of understanding regarding the implementation of the Solidarity Ring (STRING).
We believe that the implementation of this initiative will bring many benefits to our region. Thus, attracting additional natural gas supplies from Azerbaijan could help stabilize the regional energy market without the absolute need for a massive transfer of funds to infrastructure projects, which would subsequently affect the price paid by the end consumer,” the minister said.
He noted that the gas contract with Azerbaijan is of decisive importance.
“Gas is supplied to a market based on supply and demand. For Romania and the region, the gas supply contract with Azerbaijan was crucial to ensure energy security and diversification of supplies.
Given the evolution of gas production and gas demand in the market, Romania was able to cover its needs and maintain its position as the second largest gas producer in the EU. However, continued cooperation with Azerbaijan is critical to maintaining market stability under all circumstances, especially given the evolving military situation in Ukraine. Ultimately, gas purchases are based on commercial considerations depending on changes in the market,” the minister emphasized.
Burduja noted that close cooperation between Azerbaijan and Europe is becoming deeper, touching on a wide range of topics, especially in the energy sector.
“Given the current context, Azerbaijan’s role in regional markets will increase. Interconnectedness is the key word,” the Romanian minister added.
He mentioned that Romania is working closely with Azerbaijan, Georgia and Hungary to develop a green energy corridor.
“Basically, it consists of a submarine cable under the Black Sea that will allow green energy to move freely between our countries, thereby further integrating our energy markets. A feasibility study is in the process of being developed. On the other hand, there is also a great opportunity to increase Azerbaijan’s role in the EU gas market by improving connectivity between our regions. For Europe, greater access to Azerbaijani gas guarantees the satisfaction of domestic demand, lower prices and the development of industries such as petrochemicals. But more importantly, gas from Azerbaijan means an increase. energy security through diversification of sources,” Burduja said.
He also mentioned that Romania is determined to further strengthen interaction with Azerbaijan and promote cooperation between Azerbaijan and Europe in the energy sector.
“Projects already in operation, as well as projects at various stages of implementation, have changed and will continue to transform the energy infrastructure landscape in the South-East and Central Europe region. These projects create the technical and economic opportunity to transport new volumes of energy from the Caspian region, thereby better integrating this region into European markets,” the minister noted.
Burduja noted that Romania is confident that energy security and the development of energy transportation infrastructure in Central and especially South-Eastern Europe, which have been significantly affected by the protracted war in Ukraine with all its energy consequences, will continue to be supported by the European Commission in all aspects andtreated as a priority.
Let us note that it recently became known that Azerbaijan has increased gas production.