(MENAFN- AzerNews) By Nazrin Abdullayeva, AZERNEWS
Azerbaijan's strategic energy policies are yielding significantdividends, as evidenced by increasing demand for its energyresources both domestically and abroad, particularly in the Balkanregion. Over recent years, several Balkan countries have begunimporting Azerbaijani natural gas, reflecting the growing interestand reliance on Azerbaijan's energy sector.
A milestone in this trajectory is the Memorandum ofUnderstanding on Strategic Partnership in the field of energybetween Azerbaijan and the European Union. This agreement, signedwith foresight, aims to double the volume of Azerbaijani naturalgas exported to the EU by 2027, indicating a substantial commitmentto bolstering energy ties with Europe.
With Azerbaijan commencing gas exports to Europe in December2020, the proposed increase in volume underscores the success ofthe country's energy policies.
According to Vitaly Baylarbeyov, Deputy Vice President of SOCAR,plans are underway to ramp up gas exports to Southeastern Europefrom the current 12 billion cubic metres to 14 billion cubic metreswithin the next two years, with further expansions anticipatedpost-2026.
Projections indicate that gas exports could soar to 20 billioncubic metres by 2027.
However, amidst these ambitious export plans, a report by thecountry risk group Fitch Solutions notes that Azerbaijan may needto increase gas imports from Russia to meet domestic demands.
In a comment for Azernews on the issue,economist expert Rashad Hasanov said that this is not a riskindicator.
"The importance of enhancing production capacity and employingefficient technologies to optimise gas utilisation."
Speculating on Azerbaijan's energy future, Hasanov emphasisedthe nation's geostrategic position and robust transmissioninfrastructure, which create favourable conditions for expandingtrade markets.
"Azerbaijan cooperates with a number of countries on oil and gastrade. Azerbaijan is both a producer of gas and a country thatproduces energy. It is engaged in oil and gas trade not only withEurope but also with countries such as Turkiye, Russia, Iran,Turkmenistan, and Kazakhstan."
"Even these days, there are discussions about buying and sellingLibyan oil by Azerbaijani companies," the expert added.
It is worth noting that this sentiment aligns with recentdevelopments, such as Kazakhstan's plan to export 1.5 milliontonnes of oil through the Baku-Tbilisi-Ceyhan pipeline, furtherenhancing Azerbaijan's regional energy influence.
Additionally, the imminent completion of the Trans-Adriatic GasPipeline (TAP) expansion project by the end of 2025 will facilitateincreased Azerbaijani gas exports to Italy and Albania.
Furthermore, the "Ring of Solidarity" project, initiated througha memorandum signed between Azerbaijan's SOCAR and gas transmissionoperators in Bulgaria, Romania, Hungary, and Slovakia, underscoresAzerbaijan's commitment to enhancing energy cooperation anddiversifying supply routes to Europe.
As Azerbaijan continues to assert its presence in the globalenergy landscape, these developments underscore the nation'spivotal role in ensuring energy security and fostering regionalcooperation.
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