Europe fuel exports up by 30% this 12 months: Azerbaijan – SUCH TV

“The general quantity of (fuel) provides to Europe in 2022 will quantity to 12 billion cubic metres” — a 31% — improve in comparison with 2021, says Azerbaijan’s vitality minister

 Vitality-rich Azerbaijan on Monday stated its fuel exports to Europe will improve by 30% this 12 months, because the European Union tries to lower its dependence on Russian fuel amid Moscow’s offensive in Ukraine.

Europe, which is closely depending on Russian provides, has accused Moscow of utilizing vitality as a geopolitical weapon.

On Monday, Azerbaijan’s Vitality Minister Parviz Shahbazov stated that over the eight months of this 12 months Baku “provided to Europe 7.3 billion cubic metres of pure fuel.”

“The general quantity of (fuel) provides to Europe in 2022 will quantity to 12 billion cubic metres” — a 31% — improve in comparison with 2021, he stated on Twitter.

He additionally reported an almost 10% improve in pure fuel manufacturing, which reached 30.6 billion cubic metres in January-August 2022.

On Wednesday, EU chief Ursula von der Leyen proposed that member states agree a worth cap on fuel imported from Russia.

Russian President Vladimir Putin has vowed to chop off any nations imposing worth caps on oil and fuel exports.

In July, the EU and Baku agreed to double fuel imports from Azerbaijan over the following few years.

The settlement additionally gives for the growth of the Southern Gasoline Hall working by Azerbaijan, Georgia, Turkey, and Greece — “to twenty billion cubic metres per 12 months in a number of years.”

In Could, EU leaders agreed to cease most Russian oil imports by the top of the 12 months, as a part of unprecedented sanctions they slapped on Moscow over the invasion of Ukraine.

However the bloc delay an outright ban on Russian fuel, which in 2021 amounted to 155 billion cubic metres — almost 40% of EU’s wants.

Russia has already begun lowering its fuel deliveries to forestall EU nations from replenishing reserves, prompting the European Fee to arrange “a fuel demand discount plan” to get by the following winter.

 

Supply hyperlink

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
Leave A Reply

Your email address will not be published.