Nazrin Abdul, AZERNEWS

The "Solidarity Ring" (STRING) initiative is poised to boost the flow of natural gas from Azerbaijan to Europe, potentially reaching 5 billion cubic meters annually, Azernews reports citing foreign media.

Richard Kvasnovski, the executive director of the Slovak Gas and Oil Association (SGOA), emphasized this prospect in an interview with the Slovak publication "Pravda." He highlighted how Europe's reliance on Russian natural gas has diminished due to increased imports of liquefied natural gas (LNG) and Norwegian supplies.

Kvasnovski underscored Azerbaijan's potential as a significant alternative source, crucial for enhancing energy security, particularly given the historical ties of Central and Eastern European countries to Eastern gas pipelines. He emphasized the importance of the "Ring of Solidarity" initiative, aimed at augmenting natural gas imports from Azerbaijan through existing infrastructure and bolstering cross-border relations.

"Azerbaijan can become another source. This would be an important contribution to the improvement of energy security, especially considering the historical connection of Central and Eastern European countries with the eastern gas pipeline system."

At the outset, Kvasnovski suggested that the region could purchase up to 5 billion cubic meters of natural gas from Azerbaijan, aligning with Slovakia's annual consumption.

He highlighted Azerbaijan's pivotal role as an EU partner in diversifying natural gas supply, evidenced by the Strategic Partnership Memorandum with the European Commission, aiming to escalate Azerbaijani gas exports to 20 billion cubic meters yearly.

"It is planned to increase the supply of Azerbaijani gas to 20 billion cubic meters per year."

It should be noted that Azerbaijan commenced gas exports to Europe on December 31, 2020, with agreements in place to ensure a minimum supply of 20 billion cubic meters annually until 2027. Additionally, the Trans-Adriatic Gas Pipeline (TAP) is set to increase its capacity by the end of 2025, allowing for the reception of an extra 1.2 billion cubic meters of Azerbaijani gas. Italy and Albania are slated to benefit from this expansion.

Furthermore, the "Ring of Solidarity" project witnessed a milestone on April 25, 2023, in Sofia, with the signing of a Memorandum of Understanding between Azerbaijan State Oil Company (SOCAR) and the gas transmission lines of Bulgaria ("Bulgartransgaz"), Romania ("Transgaz"), Hungary (FGSZ), and Slovakia ("Eustream"). This agreement outlines cooperative efforts between the transmission system operators and SOCAR to facilitate additional gas deliveries from Azerbaijan to Europe via upgraded gas transmission networks in Bulgaria, Romania, Hungary, and Slovakia.