Baku: Over $18 billion in investment may be required to increase gas exports from Azerbaijan to Europe. According to Azeri-Press News Agency, A report by Fitch Solutions highlights the financial demands to boost annual gas exports from Azerbaijan to the European Union (EU) to 20 billion cubic meters. The report, produced by Fitch Solutions, a company under the Fitch Group, emphasizes the uncertainty surrounding Azerbaijan's ability to double its natural gas exports to the EU by 2027, as agreed in 2022. The expansion of Azerbaijan's pipeline infrastructure is a significant component of this ambitious export target. According to the report, achieving the desired 20 billion cubic meters in annual export volume will necessitate expanding the current pipeline network at an estimated cost of $18.5 billion. Moreover, the report underscores the hesitation of the Azerbaijani government and SOCAR to utilize the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for financing without solid commitments from the EU re garding the future relevance of these initiatives amid evolving Net Zero policies. Additionally, the conditions set by the Paris Agreements on investments in new hydrocarbons projects present another hurdle. Azerbaijan could face challenges attracting investors for the pipeline expansion unless these pipelines are adapted to transport green hydrogen as well. The report suggests that if pipeline expansions incorporate hydrogen compatibility, Azerbaijan might secure financial aid from institutions such as the European Bank of Reconstruction and Development and the European Investment Bank. The report also recalls the commencement of Azerbaijani gas transportation to Europe via the Trans-Adriatic Pipeline (TAP) on December 31, 2020. TAP, serving as the European segment of the Southern Gas Corridor (SGC), plays a crucial role in delivering natural gas from Azerbaijan's Shah Deniz gas-condensate field to Europe. The pipeline's Greek section, 551.5 kilometers long, represents the longest segment, beginning at Kip oi on the Greece-Trkiye border and ending near the Greece-Albania border. Along with this, the Albanian section of the TAP pipeline spans 215 kilometers on land and an additional 37 kilometers in the Adriatic Sea.