BAKU, Azerbaijan, December 5. The Caspian Sea with its reach oil and gas resources has become a source of hope for the EU and the Balkan countries amid the current energy crisis in Europe, Trend reports, citing the Ankara Center for Crisis and Policy Studies (ANKASAM), a think tank based in Türkiye.
According to the article, due to sanctions imposed on Russia, the suspension of the Nord Stream-2 Natural Gas Pipeline, the sabotage of the Nord Stream-1 and Nord Stream-2 Natural Gas Pipelines, Caspian-based projects gain crucial importance.
Thus, the Southern Gas Corridor (SGC) became the most reliable route for gas exports to Europe, especially, with new additional pipelines and interconnectors, such as TAP, or TANAP. Along with the existing infrastructure, Azerbaijan eyes expanding further to the Balkans, and is exploring new opportunities and contracts in this regard.
“The statements of Wolfgang Urbancic, Head of the Austrian Energy Regulator “E-Control”, saying that Azerbaijan will become an alternative market along with Algeria and Norway should not be ignored in the context of these initiatives, because Azerbaijan is turning into an important center for Europe to overcome the energy crisis,” said the article.
Azerbaijan is aimed at extending its export infrastructure. In this regard, the Interconnector Greece-Bulgaria (IGB) has been launched recently, and is already successfully operating.
In the nearest future, Azerbaijan eyes to supply its natural gas to the Balkans, Serbia, and Moldova.
“The energy crisis, which negatively affected Europe, increased the importance of the states bordering the Caspian. The fact that two of the five coastal states were the target of sanctions brought the other three countries to the fore. In this context, it can be said that Azerbaijan, which has been exporting energy to Europe for a long time, has also turned into an important route country,” the article said.