ISTANBUL -- The European Union on Monday signed a memorandum of understanding with Azerbaijan, aiming to double gas imports from the energy-rich South Caucasus country as the 27-member bloc seeks to reduce dependence on Russia.
While the newly agreed upon 20 billion cu. meters of gas a year pales in comparison to the 155 bcm the EU imported from Russia last year, the memorandum is likely to lead to investment in pipelines and gas development that could make Azerbaijan a key European energy source.
