Azerbaijan has signed a memorandum of understanding(MOU)that should pave the way for up to to 9.5 billion cubic meters per yearof Caspian gas to be delivered to central and eastern Europe by the end of 2026.The MOU with Bulgaria,Romania,Hungary and Slovakia is in line with Europe’s plans to increase imports of Caspian gas as it seeksalternative sources of supply to replace pipeline gas imports from Russia.Azerbaijan also plans to double its export capacity to Europe to 20 Bcm/yr by 2027,as agreed in another memorandum signed last yearby Azeri President Ilham Aliyev and European Commission President Ursula von der Leyen.There are questions,however,aboutBaku’s ability to produce enough gas for additional exports,given the country's upstream constraints.Aliyev and the ministers of the four other countries signed the new MOU in Bulgaria on Tuesday.It seeks to promote cooperationbetween Azeri gas exporter Socar and gas transmission system operators(TSOs)Bulgartransgaz(Bulgaria),Transgaz(Romania),FGSZ(Hungary)and Eustream(Slovakia).
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