Italy eyes to invest in Azerbaijan’s energy sector and technologies

  06 March 2019    Read: 2002
 Italy eyes to invest in Azerbaijan’s energy sector and technologies

Italy is interested in investing in the fields of energy and technologies in Azerbaijan, head of the Italian delegation to the OSCE Parliamentary Assembly, Deputy Head of the Foreign Affairs Committee at the Chamber of Deputies of the Italian Parliament Paolo Grimoldi said in Baku.

Grimoldi made the remarks at the meeting with Azerbaijani Energy Minister Parviz Shahbazov, Trend reports referring to the Azerbaijani Ministry of Energy on March 6.

Speaking about energy cooperation, he stressed that the Trans-Adriatic Pipeline (TAP) is a project that meets the interests of the two countries.

“TAP will ensure the development of not only economic relations between the countries, but also political ones,” Grimoldi said.

In turn, Shahbazov stressed the significant role of the energy sector in multi-vector cooperation with Italy.

The minister stressed that Italy is one of the main buyers of Azerbaijani oil and Azerbaijan will also supply gas to this country through the Southern Gas Corridor.

Shahbazov appreciated Italy’s position on the implementation of TAP, which is part of the Southern Gas Corridor.

The Southern Gas Corridor project envisages the creation of pipeline infrastructure for the transportation of Azerbaijani gas, which is extracted as part of the development of the Shah Deniz 2 field, to Europe through Turkey.

The main components of the project are Shah Deniz 2, the South Caucasus Pipeline expansion project, construction of the Trans-Anatolian Natural Gas Pipeline (TANAP) from Turkey’s eastern border to the western border and the Trans-Adriatic Pipeline (TAP) connecting Greece, Albania and the Adriatic Sea in southern Italy.

Meanwhile, 10 billion cubic meters of Azerbaijani gas are expected to be supplied to Europe in early 2020. Moreover, six billion cubic meters of Azerbaijani gas will be supplied to Turkey’s western regions. Gas has been supplied to Turkey since summer 2018.

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