By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Azemedia new logo
  • Home
  • COP29
  • Opinion
  • News
    • Economy
    • Energy
    • Climate and Ecology
  • Culture
  • Diaspora
  • Interview
  • Science
  • Logistics-Transport
  • Gender
  • History
  • Defense
  • Karabakh
Aze.MediaAze.Media
Font ResizerAa
Search
  • News
  • Economy
  • Climate and Ecology
  • Energy
  • Opinion
  • Culture
  • Gender
  • Interview
  • Science
  • Logistics-Transport
  • History
  • Defense
  • Karabakh
  • Diaspora
  • Who we are
Follow US
© 2021 Aze.Media – Daily Digest
Aze.Media > News > Economy > Russia closes a window. Azerbaijan is a “window of opportunity”
EconomyOpinion

Russia closes a window. Azerbaijan is a “window of opportunity”

AzeMedia
By AzeMedia Published March 24, 2022 7 Min Read 869 Views
Baku 916x516

Russia’s full-scale invasion of Ukraine has put European countries in an extremely difficult position. On the one hand, in solidarity with Ukraine, Europe continues to impose massive economic sanctions against Russia, but on the other hand, it cannot stop buying Russian gas, one of the main sources of foreign exchange earnings for the Russian economy.

And this is not surprising, given that Russia provides about 40 percent of all gas consumed in the European Union. It is no coincidence that Brussels is so eager to become independent of Russian gas imports as soon as possible. In search of new partners, Germany’s Economy Minister Robert Habeck has already visited Qatar and the United Arab Emirates, where he discussed the prospects for energy cooperation.

Moreover, in desperate need to diversify hydrocarbon supplies and ensure its energy security, the European Union is simultaneously considering several options for active cooperation with gas producing countries, among which Azerbaijan is regarded as one of the most reliable and high-priority partners.

Of course, Azerbaijani gas cannot fully offset the Russian supplies, let alone meet the overall demand of the European market for natural gas. But Azerbaijan is perfectly capable of supporting the partners with additional gas supplies, while expanding the existing gas transportation system, which is of critical importance in the current situation.

Meanwhile, Europe increasingly often brings up the necessity of expanding the gas pipelines from Azerbaijan. In particular, Bulgaria’s representatives have insisted more than once recently on the need to expand the Trans Adriatic Pipeline (TAP), presenting detailed reports on the measures to expedite the construction of the Interconnector Greece-Bulgaria (IGB) to receive contracted quantities of Azerbaijani gas.

It is noteworthy that the construction of IGB was constantly delayed due to poor fulfillment of obligations by Azerbaijan’s partners. Now, after the introduction of anti-Russian sanctions, the work has sped up and the interconnector is expected to be commissioned by July 1 of this year, at which point Bulgaria will be able to receive the entire contracted amount of Azerbaijani gas.

The influential EU Reporter also wrote about the need to expand the gas pipeline from Azerbaijan. In particular, the article says that the expansion of the pipeline, which would allow to pump annually not ten billion cubic meters of gas to the EU, but twenty, may take several years. But, according to the EU Reporter, it has to be done, because Europe’s energy security is at stake.

Even before the Russian invasion of Ukraine, speaking at the conference on the Southern Gas Corridor (SGC) in Baku, European Commissioner for Energy Kadri Simson subtly hinted that the security of Azerbaijani gas supplies to Europe is beyond any doubt.

In response President Ilham Aliyev said that by completing the SGC project Azerbaijan had been able to increase gas exports, which in 2021 amounted to 19 bcm, of which 8.5 bcm was pumped to Turkey, almost 7 bcm to Italy, and the rest was exported to Georgia, Greece and Bulgaria. Once Albania completes the construction of its own gas distribution network, this country will also become a recipient of Azerbaijani gas.

Reminding the conference participants that Azerbaijan’s proven gas reserves alone total 2.6 trillion cubic meters, Ilham Aliyev emphasized that there is a real need for Azerbaijani gas in the new markets, and Baku is completely prepared to meet it, as Azerbaijan has always been and remains a reliable supplier of energy resources.

“The latest data on the share of Azerbaijani gas in international markets of gas importing countries shows that some countries buy 80 percent of their gas from Azerbaijan, while in others it accounts for 15-20 percent of overall gas consumption,” President Aliyev said. “I would like to assure the conference participants that these figures will grow, as we are planning to ramp up gas production…”

As already stated, of course, Azerbaijan will not be able to prevent the energy crisis that may overtake Europe in the event it gives up Russian gas altogether. At the same time, for a number of European states, gas from Azerbaijan is a kind of “window of opportunity” that allows minimizing crisis losses and strengthening energy security.

Elnur Mammadov

Translated from Haqqin.az

You Might Also Like

Could Azerbaijan and Armenia weaken Russia’s influence in the South Caucasus?

The July strike that shattered Yerevan’s plans and launched the great war

The United States has increased its investments in Azerbaijan’s economy

Abu Dhabi as a new starting point for peace in the South Caucasus

How Türkiye views Azerbaijan-Russia tensions

AzeMedia March 24, 2022 March 24, 2022

New articles

Pashinyan aliyev e1752407152990
Could Azerbaijan and Armenia weaken Russia’s influence in the South Caucasus?
Opinion July 14, 2025
Farhad 1086x724
The South Caucasus is forming its own line: Farhad Mammadov on regional transformation and external players
Interview July 14, 2025
Ap25193441575094 e1752327098296 640x400
Syrian and Israeli officials expected to meet in Azerbaijan during Sharaa’s visit
News July 12, 2025
Siriya baku scaled
President of Syria Ahmad al-Sharaa has arrived in Azerbaijan on an official visit
News July 12, 2025
Fq39plpwwbcrz4c
Pakistani expert: “Iran’s future lies in the region, not in the West”
Interview July 12, 2025
24103d8e9b7f33e1c90d0b8f1f74c6af
The July strike that shattered Yerevan’s plans and launched the great war
Opinion July 12, 2025
Us Azerbaijan Relations
The United States has increased its investments in Azerbaijan’s economy
Economy News July 12, 2025
Abu dabi
Abu Dhabi as a new starting point for peace in the South Caucasus
Opinion July 12, 2025
Aliyev Putin August 18 2024 1536x948.jpg
How Türkiye views Azerbaijan-Russia tensions
Opinion July 12, 2025
2025 02 07t125243z 1023693602 rc2opca4d39r rtrmadp 3 azerbaijan russia 1751366812
Russia chooses a new tactic against Azerbaijan: three dangerous plans on the table
Interview July 11, 2025

You Might Also Like

Pashinyan aliyev e1752407152990

Could Azerbaijan and Armenia weaken Russia’s influence in the South Caucasus?

July 14, 2025 7 Min Read
24103d8e9b7f33e1c90d0b8f1f74c6af

The July strike that shattered Yerevan’s plans and launched the great war

July 12, 2025 6 Min Read
Us Azerbaijan Relations

The United States has increased its investments in Azerbaijan’s economy

July 12, 2025 2 Min Read
Abu dabi

Abu Dhabi as a new starting point for peace in the South Caucasus

July 12, 2025 14 Min Read
Aliyev Putin August 18 2024 1536x948.jpg

How Türkiye views Azerbaijan-Russia tensions

July 12, 2025 9 Min Read
Aliyev and pashinyan in abu dhabi 7 10 2025

First Erdoğan, then Aliyev: Yerevan admits there’s no one left to count on

July 11, 2025 6 Min Read
Abu dabi

The Abu Dhabi meeting — a historic breakthrough for the entire South Caucasus

July 10, 2025 8 Min Read
Mehdi sobhani

The Armenian ambassador in the body of an Iranian’: Who is using Mehdi Sobhani against Baku — and why

July 10, 2025 6 Min Read

Useful links

426082d1 a9e4 4ac5 95d4 4e84024eb314 pojkz91103g6zqfh8kiacu662b2tn9znit7ssu9ekg
Ab65ed96 2f4a 4220 91ac f70a6daaf659 pojkz67iflcc0wjkp1aencvsa5gq06ogif9cd0dl34
96e40a2b 5fed 4332 83c6 60e4a89fd4d0 pojkz836t9ewo4gue23nscepgx7gfkvx6okbbkasqo
759bde00 a375 4fa1 bedc f8e9580ceeca pq8mvb9kwubqf6bcadpkq5mz16nayr162k3j2084cg
aze-media-logo-ag1

We are a unique political and socio-cultural digest offering exclusive materials, translations from Azerbaijani media, and reprints of articles from around the world about Azerbaijan.

  • Privacy Policy
  • Terms and Conditions
  • Cookies Policy

Email: editor@aze.media

© 2021 Aze.Media – Daily Digest
aze-media-logo1 aze-media-logo-ag1
Welcome Back!

Sign in to your account

Lost your password?