Energy supplies from S.Caucasus, Central Asia to Europe via Azerbaijan have great chance for growth - Svante Cornell

By Trend

Energy supplies from the South Caucasus and Central Asia through Azerbaijan to the EU have great chance for growth, Co-founder and Director of the Institute for Security and Development Policy (Sweden) and participant of international "South Caucasus Development and Cooperation" conference held in Azerbaijan’s Shusha, Svante E. Cornell told Trend.

“The unrealistic expectations that renewable energy resources will replace natural gas in the short term perspective finally reduced European interest in alternative energy,” Cornell said.

“At the moment, there is a much greater need for gas supplies due to disruptions in gas exports from Russia. This will require serious investments from European partners and for a long time,” he noted.

“Agreements have been reached and pipelines have been built up to a certain capacity. Now gas buyers must conclude new contracts with Azerbaijan," Cornell added.

He also added that the agreement with the EU, which will be signed in near future, is very important for Azerbaijan, as it means a more organized and improved mechanism for interaction between the sides in all areas, which will be important in all areas of cooperation.