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Azerbaijan supplying around 5% of EU's oil demand

15 February 2017 13:26 (UTC +04:00)

He reminded that the key projects of the Southern Gas Corridor, the expansion of the South-Caucasus Pipeline, TANAP and TAP have been identified as Projects of Common Interest and have been also included in the list of critical projects under the European Energy Security Strategy.

Maroš ŠefÄoviÄ said: “Azerbaijan is an important energy partner for the EU, currently supplying around 5% of the EU's oil demand but Azerbaijan's pivotal role is related to its position as an “enabler” of the Southern Gas Corridor to bring Caspian gas resources to the EU markets. Its timely completion is critical, so that gas from the new suppliers can flow to Europe by 2020”.

According to Maroš ŠefÄoviÄ, in order to successfully coordinate the implementation of the Southern Gas Corridor, President of the Republic of Azerbaijan Ilham Aliyev established the Southern Gas Corridor Advisory Council, co-chaired by the European Commission; the 3nd Ministerial Meeting will be held in Baku on 23 February.