The European Union will take a further step towards the diversification of energy sources and security of supply when it discusses the implementation of the Southern Gas Corridor in Azerbaijan on Thursday.
European Commission Vice-President for the Energy Union Maroš Šefčovič was expected to fly to Baku later on Wednesday to attend the 4th meeting of the Southern Gas Corridor Advisory Council.
“I am looking forward to receiving a detailed update from the operators and consortia on various projects of the Southern Gas Corridor,” Šefčovič said ahead of his visit. “It has a strategic importance for the European energy security, especially in the most vulnerable parts of Europe, such as South-East Europe and Southern Italy. We all stand to gain from this ‘bridge’ between the EU market and the Caspian region. In the long run, our objective is to create a pan-European energy market based on free trade, competition and diversified supplies, sources and routes,” the Vice President added.
The Southern Gas Corridor Advisory Council gathers all main actors involved in the Southern Gas Corridor, which is a strategic initiative that aims to bring Caspian, Central Asian, Middle Eastern, and Black Sea gas resources to European markets.
According to the European Commission, the meeting is crucial for streamlining the development and implementation of the Corridor by bringing together all the countries and stakeholders involved.
Ministers from Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Georgia, Greece, Italy, Montenegro, Serbia and Turkey will also attend, as invitations were extended to the heads of the energy ministries of the relevant EU Member States, partner countries. and international financing institutions.
Šefčovič will hold bilateral talks with Azerbaijan’s President Ilham Aliyev on the sidelines of the meeting.