Ilham Aliyev: Azerbaijan may increase gas supplies to Germany

Azerbaijan has a ten-year contract to supply 1.5 billion cubic meters of gas to Germany annually, with Baku potentially increasing the volume if the necessary conditions are met.

According to a Report correspondent from Berlin, Azerbaijani President Ilham Aliyev was speaking at a joint press conference with German Chancellor Friedrich Merz.

The head of state noted that total trade turnover between Azerbaijan and Germany last year amounted to approximately $1.5 billion, with Germany's exports to Azerbaijan accounting for the majority of this amount: "Oil constitutes the bulk of our exports to Germany. Azerbaijan supplies crude oil worth several hundred million dollars. We can supply as much as needed."

The president recalled that Azerbaijan began supplying natural gas to Germany this year: "Last year, our total gas exports amounted to 25 billion cubic meters, half of which went to European Union countries. We have a 10-year contract for gas supplies of 1.5 billion cubic meters. We can increase this volume, but several conditions should be met. First, we should receive a request. Second, we should expand the existing gas infrastructure and, of course, resolve the investment issue, as European banks are reluctant to finance such projects."

Ilham Aliyev noted that it would be good if European banks reconsidered their decisions, especially given the unfortunately deepening crisis in the Middle East: "Traditional supply chains have been disrupted. Given that, due to the shutdown of oil refineries, Russia cannot export as many petroleum products to traditional clients as it would like. All these events, with unpredictable outcomes, are ongoing. Therefore, I believe that, given the green agenda, these issues may be reconsidered so that European banks also allocate funds for the development of oil and gas projects, construction, and expansion of infrastructure. In this case, Azerbaijan will be able to significantly increase its gas exports to Europe, including Germany."