🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Azerbaijani president confident on Ukraine gas route talks

Published 06/09/2024, 09:49 pm
Updated 06/09/2024, 09:51 pm
© Reuters. Azerbaijan's President Ilham Aliyev speaks at the European House - Ambrosetti Forum, an annual conference that gathers business and political leaders at the end of the summer, in Cernobbio, Italy, September 6, 2024. REUTERS/Claudia Greco
NG
-

CERNOBBIO, Italy (Reuters) -Azerbaijani President Ilham Aliyev said on Friday he was optimistic of a breakthrough in talks between Moscow and Kyiv to keep Russian gas flowing through Ukraine to several European countries.

The European Union and Ukraine have asked Azerbaijan to facilitate discussions with Russia about a gas transit deal that is set to expire at the end of this year.

Aliyev said he had a "certain optimism" on the latest discussions between Russia and Ukraine, adding: "We think that there is a ground for breakthrough but probably it will be premature for me to go into much detail".

The Azerbaijani president, who on Thursday met Italian Prime Minister Giorgia Meloni in Rome in his third visit to the country since 2020, was addressing the TEHA Forum in Cernobbio, Italy, which every September gathers businessmen and policymakers to discuss the geopolitical and economic outlook.

While the EU has cut most of its Russian gas imports, some central European countries, including Austria, still depend on gas from Russia via a pipeline that crosses Ukraine.

"We just want to support those countries and also Ukraine because if the transit stops Ukraine's gas distribution system will be absolutely paralysed," Aliyev said.

Azerbaijan plays a major role in the EU's energy security, Aliyev said, adding that seven of the 10 countries which rely on the Southern Gas Corridor pipeline network for their gas supplies are members of the bloc.

"Probably that is why the European Commission calls Azerbaijan a pan-European gas supplier and also a reliable partner," he said.

© Reuters. Azerbaijan's President Ilham Aliyev speaks at the European House - Ambrosetti Forum, an annual conference that gathers business and political leaders at the end of the summer, in Cernobbio, Italy, September 6, 2024. REUTERS/Claudia Greco

Built to diversify the EU's energy supplies by bringing natural gas from the Caspian Sea to Europe, the Southern Gas Corridor network runs across 3,500 km from Azerbaijan to Italy.

"With extensions and inter-connectors the pipeline covers a broad European and Eurasian geography with a strong potential to grow: because today we're in ... negotiations with at least three European countries with respect to gas supply," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.