Two-tailed Benefits of the Memorandum of Understanding in Energy Field

The European Union recently has been working with key international partners to diversify its energy supplies minimizing the risks to a minimum level and reducing the burden on prices.  In the face of the ongoing Russia-Ukraine war that poses severe economic repercussions with obstacles to the energy security of the continental union, the EU is in the way towards the diversification of energy supplies and towards the seek of reliable sources. In this vein, on July 18, 2022 the President of the European Commission Ursula von der Leyen with the President of Azerbaijan Ilham Aliyev signed a new memorandum of Understanding on a Strategic Partnership in the Field of Energy that includes a commitment to double the capacity of the Southern Gas Corridor in the upcoming years.

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