The leaders of Azerbaijan, Georgia, Romania and Hungary met in Bucharest, the capital of Romania, for the 'green energy agreement'.

The signing ceremony of the Strategic Partnership Agreement in the field of green energy development and transmission, including the transport of Azerbaijani electricity to Europe, was held in Bucharest, the capital of Romania.

President of Azerbaijan Ilham Aliyev emphasized the importance of the agreement in his speech at the meeting held before the ceremony.

Aliyev; “With the green energy agreement, we will make a greater contribution to ensuring Europe's energy security. This is a crucial agreement to build green energy security. I would like to thank the President of the European Commission, Ursula von der Leyen, for her efforts in this project. During Leyen's visit to Azerbaijan in June, a memorandum of understanding was signed between Azerbaijan and Europe in the field of energy, and now we have started the execution of this document.”

Azerbaijan Will Be Europe's Electricity Supplier

Stating that the foundation of a new energy bridge between Azerbaijan and Europe has been laid, Aliyev said, “Azerbaijan has a great potential in the field of renewable energy. Azerbaijan is becoming an important electricity supplier to Europe. Especially in the field of green energy, Azerbaijan has 26 gigawatts of renewable wind and solar capacity on land alone. Wind energy in the Azerbaijani sector of the Caspian Sea is 157 gigawatts. Azerbaijan plans to produce 3 gigawatts of wind and 1 gigawatt of solar energy by 2027 with one of its strategic investors. 80% of this will be exported. We plan to create at least 6 gigawatts of additional power by 2037.”

Europe Buys Natural Gas from Azerbaijan

Stating that Azerbaijan exported 8.2 billion cubic meters of natural gas to European markets last year, Aliyev said, “Azerbaijan exported 11.3 billion cubic meters of natural gas to Europe this year. At least 11.6 billion cubic meters of gas are expected to be exported to Europe next year. The volume of natural gas exported from Azerbaijan in 2023 will be approximately 24 billion cubic meters. The total volume of natural gas exported in 2021 was 19 billion cubic meters.''