Europe needs more gas from the YGC and Turkmenistan can help

EU countries are interested in increasing natural gas imports through the Southern Gas Corridor (YGC) to prevent further jumps in blue fuel prices in the European market.

This was stated by the European Commission and the representatives of the governments of the EU countries at the eighth meeting of the Advisory Council of the ICC in Baku. Representatives of Turkmenistan also took part in the event.

Azerbaijan is currently the main supplier of gas to Europe through the South-East Europe, but Turkmenistan can also attract Turkmenistan to take full advantage of its existing pipelines. Fruitful cooperation in the oil and gas sphere has been established between the Caspian neighbors. Evidence of this is the joint development of the Dostluk field in the Caspian Sea.

Azerbaijan has offered the EU gas supplies from a new source and a new route, Energy Commissioner Kadri Simson said in an interview with IA Trend. He did not elaborate, adding that any proposal on the issue would help reduce gas prices in the gas market, and today YGC is helping to stabilize the price of blue fuel in a number of EU countries.

More than 9 billion cubic meters of natural gas have been delivered to the European part of the pipeline per year in the European part of the Advisory Council. Azerbaijani Energy Minister Parviz Shahbazov said that the country was ready to cooperate with the states that want to buy additional volumes of blue fuel.

"We are ready to cooperate with the European Commission and the countries that want to buy additional gas or import and export gas, as well as to promote the development of the Southern Gas Corridor," Shahbazov said.

Earlier, at the 26th International Conference on Oil and Gas of Turkmenistan, the American company Trans Caspian Resources (TCR) offered Turkmenistan to implement Trans-Caspian Connector (interconnector) project - medium power lines for natural gas supply from Turkmenistan's offshore wells in the Caspian Sea to the existing infrastructure of Azerbaijan.