German companies have signed a 10-year contract for the export of Azerbaijani gas, with an initial volume of 1.5 billion cubic meters.
Operative Information Center-OMM reports that President Ilham Aliyev made this statement during a joint press conference with German Chancellor Friedrich Merz.
The head of state noted that the total trade turnover between Azerbaijan and Germany reached approximately $1.5 billion last year, with the majority consisting of German exports to Azerbaijan. "The main part of our exports is crude oil. Azerbaijan supplies crude oil at the level of several hundred million dollars. We can supply as much as is needed," he said.
The President recalled that Azerbaijan began selling natural gas to Germany this year. "Last year, our total gas exports were 25 billion cubic meters, and half of that is exported to European Union countries," he noted.
President Ilham Aliyev stated that European banks, particularly the European Investment Bank, have ceased financial support for oil and gas projects due to the "green agenda," which he identified as a primary challenge. The head of state noted that to expand the infrastructure supplying gas to Europe, Azerbaijan requires credit from other sources.
"It would be better if European banks reconsidered their decisions. Especially considering that the crisis in the Middle East is unfortunately deepening. Traditional supply chains have been broken. Considering that Russia cannot export as many oil products as it wants to traditional customers due to the disabling of its oil refineries. All these unpredictable events continue. Therefore, I believe that, provided the green agenda is taken into account, these issues can be reconsidered so that European banks also allocate funds for the development of oil and gas projects, and the construction and expansion of their infrastructure. In such a case, Azerbaijan can significantly increase its gas exports to the European space, including Germany," he added.
Context: Azerbaijan has emerged as a critical strategic partner for the European Union in ensuring energy security, particularly following the continent's efforts to diversify energy supplies. The Southern Gas Corridor, a major infrastructure project connecting Azerbaijan to Europe, plays a pivotal role in this strategy, facilitating the reliable transport of natural gas to meet European demand.
