(MENAFN- AzerNews)
energy Policy As Savior Of Europe From Impending gas Crisis Image' Height='500'/>
Fatima Hasanova read more Today, energy security has become one of the most important
issues on the global agenda, where the role of Azerbaijan, with its
rich oil and gas resources, diversified transportation routes, and
its reputation as a reliable partner, becomes invaluable.
Together with its foreign partners, Azerbaijan has been
spearheading large-scale projects to build appropriate
infrastructure capacities to provide Europe with alternative
energy.
Given the significant changes in the global energy markets,
which particularly include the Russian-Ukrainian war, there is a
growing need for Europe to seek new ways to stabilize and ensure
energy security, which makes Baku a central player in this
situation.
On September 20, 1994, the State Oil Company of Azerbaijan
marked the beginning of an era of significant changes in the world
economy. By signing the Contract of the Century with 11 leading
international oil companies on joint development and PSA
distribution of Azeri-Chirag-Guneshli fields and later on 26
agreements with 41 oil companies representing 19 countries of the
world, Azerbaijan has become a central hub of energy in the
geo-economic map of Eurasia and laid the basis for further
development of partnership with the world community.
The continuation of this strategy was the signing in Baku in
July 2022 of a Memorandum of Understanding on Strategic Energy
Partnership between Azerbaijan and the EU, with the participation
of Ursula von der Leyen, envisaging the doubling of the capacity of
the Southern Gas Company, bringing annual supplies of Azerbaijani
gas to more than 20 bcm by 2027.
Speaking at the 9th Ministerial Meeting within the framework of
the South Gas Corridor Advisory Council held at Gulustan Palace in
Baku on February 3, 2023, President Ilham Aliyev said that much has
changed in the world since last year's 8th South Gas Corridor
Advisory Council.
'The world has changed. Energy security issues have become
increasingly important for every country. And as we used to say in
our meetings, energy security is really an issue of national
security,' said President Ilham Aliyev.
Most notable was his statement that Azerbaijan has all the
resources required for its plans to double gas exports to Europe by
2027. Clear political will and a very high level of mutual trust
will facilitate this.
According to President Ilham Aliyev, natural gas produced in
Azerbaijan can play a role in the energy security of both
Azerbaijan and Europe for hundreds of years. Azerbaijan has 2.6
trillion cubic meters of gas reserves and a 3,500 km corridor that
will bring this reserve to Europe.
As mentioned earlier, the Russian-Ukrainian war has
significantly increased the number of countries that have asked
Azerbaijan for natural gas. In 2022, over 10 appeals were made for
Azerbaijani natural gas.
The extension of the Trans Adriatic Pipeline (TAP) to Italy
clearly demonstrates the need of Bulgaria, Serbia, Hungary, and
Romania for Azerbaijani energy resources.
Azerbaijan has clearly set the goal of becoming one of the main
suppliers of natural gas to Europe, as well as green energy and
hydrogen in the future.
Hydrogen energy has a huge advantage over other forms of energy.
This advantage is that other alternative energy resources are
dependent on natural phenomena. But hydrogen energy does not depend
directly on natural phenomena. Currently, it takes time to do some
work on the transfer of hydrogen energy.
Can we say that today Azerbaijan is 'saving' Europe from the
energy crisis? The answer is perhaps yes. President Aliyev stressed
that the proven potential of RES in Azerbaijan is 184,000 MW, of
which 157,000 MW is in the potential of the Azerbaijani sector of
the Caspian Sea. It even accords with the statement in which the
president mentioned Azerbaijan to be an indispensable partner in
the energy sector.
This may solely be the best chance for Azerbaijan to take the
lead in the sphere of energy and business for decades to come.
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