(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 20. The EU–Azerbaijan
energy cooperation is irreversibly deepening, Robert M. Cutler,
energy security and geo-economics specialist, fellow, Canadian
Energy Research Institute, fellow, Canadian Global Affairs
Institute wrote in his article published on the website of the NATO
Association of Canada, Trend reports.
“On 1 March 2024, Baku, Azerbaijan, became the focal point for a
pivotal convergence in the energy sector: the 10th Ministerial
Meeting of the Southern Gas Corridor (SGC) Advisory Council
alongside the 2nd Ministerial Meeting of the Green Energy Advisory
Council. The gathering represented a significant milestone in the
cooperation of the European Union (EU) with the Republic of
Azerbaijan while it also showcased how global energy strategies are
dynamically evolving,” reads the article.
The author points out that the Southern Gas Corridor (SGC) is a
pivotal pipeline project facilitating the transportation of gas
from the Caspian Sea region to Europe. Since the onset of the
Ukraine war in February 2022, the SGC has emerged as a vital
mechanism in lessening Europe's reliance on Russian gas.
Azerbaijan's Shah Deniz gas field, situated offshore, serves as the
primary supplier for this corridor, reads the article.
Cutler emphasizes that against the backdrop of evolving
geopolitical dynamics and increasing political impetus for energy
diversification towards nontraditional sources, the recent meetings
underscored Azerbaijan's strategic importance.
”The meeting in Baku underscored Azerbaijan's pivotal role in
enhancing European energy security through diversified gas
supplies. However, its significance arises not just from its
enormous natural gas deposits but also from its vast potential for
wind power,” he added.
The gatherings in Baku convened representatives from 23 partner
governments and 52 institutions and companies, as highlighted by
the author. These meetings underscored the enduring commitment
between the European Union (and the Republic of Azerbaijan to their
Strategic Partnership in the energy sector. The presence of EU
Commissioner Kadri Simson underscored the significance of the
EU-Azerbaijan partnership from Brussels' perspective. This
collaboration encompasses various practical policy domains,
including ensuring an affordable, stable, and secure natural gas
supply, fostering renewable energy generation, improving energy
efficiency, exploring hydrogen production, mitigating methane
emissions, and ensuring environmental protection.
“For example, the European Commission facilitated a Memorandum
of Understanding (MoU) on wind-energy cooperation between
Azerbaijan's Renewable Energy Agency and the European industry
association WindEurope. This MoU opens the door for European
renewable-energy companies to participate in harnessing
Azerbaijan's vast wind-power potential, likely accelerating the
increase of the share of nontraditional energy in the region and
potentially supplying it to Europe.
Azerbaijan boasts the potential for 27 gigawatts (GW) of wind
and solar power onshore, with an additional 157 GW of wind power in
its offshore Caspian Sea sector. Azerbaijan has set the ambitious
goal for such sources to constitute 30 percent of its total
installed electricity capacity by 2030. This goal contributes to
its excellent relations with the EU in view of the latter's push
toward nontraditional energy sources.
Thus the SGC, traditionally associated with natural gas, has
evolved into a platform for cooperation that now encompasses
renewables and electrification. The strategic partnership on wind
energy illustrates the deepening of the cooperation, as
nontraditional forms of energy become an equal aspect of their
bilateral relations,” he added.
Additionally, Cutler highlighted Azerbaijan's significant stride
in joining the Global Methane Pledge initiative, which involves
voluntary commitments by nation-states to decrease global methane
emissions by at least 30 percent by the decade's end. Azerbaijan's
commitment to climate action dates back to its ratification of the
UN Framework Convention on Climate Change in 1995 and the Kyoto
Protocol in 2000. Notably, Azerbaijan has updated its Nationally
Determined Contributions (NDC), aiming for a 40 percent reduction
in atmospheric gas emissions, up from the previous 35 percent
target. Furthermore, it has announced plans to designate the
Karabakh and Eastern Zangezur economic regions as a decarbonization
zone with a target set for 2050.
“With the close of the 10th Ministerial Meeting of the Southern
Gas Corridor Advisory Council and the 2nd Ministerial Meeting of
the Green Energy Advisory Council in Baku, it is clear that
EU–Azerbaijan energy cooperation is irreversibly deepening. The two
sides converge in their agreed emphasis on ensuring the stability
of the supply of natural gas while pursuing ambitiously the
development of nontraditional energy resources. This agreement
represents a strategic partnership with a shared vision for the
future of energy geoeconomics and signifies a robust foundation for
advancing shared interests and mitigating threats to energy
security,” the author concludes.
Follow the author on X:
@Lyaman_Zey
MENAFN20032024000187011040ID1107998950
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.