2024-03-21 10:13:38
Energy cooperation between the European Union (EU) and Azerbaijan is irreversibly deepening.
As Day.Az reported on Wednesday, this was stated in an article published on the website of the NATO Association of Canada by Robert Cutler, a specialist in energy security and geoeconomics, a researcher at the Canadian Institute for Energy Research, as well as the Canadian Institute of Global Affairs.
“On March 1, 2024, the capital of Azerbaijan, the city of Baku, became a key center of convergence in the energy sector. The 10th ministerial meeting of the Southern Gas Corridor (SGC) Advisory Council was held along with the second meeting of ministers on green energy. The meeting was an important milestone in cooperation between the European Union and the Republic of Azerbaijan, and also demonstrated how dynamically global energy strategies are developing,” the article says.
The author points out that the Southern Gas Corridor is the most important pipeline project ensuring the transportation of gas from the Caspian Sea region to Europe.
“Since the outbreak of war in Ukraine in February 2022, the SGC has emerged as a vital mechanism for reducing Europe’s dependence on Russian gas. The Shah Deniz gas field in Azerbaijan serves as the main gas supplier for this corridor,” the article mentions.
Cutler writes that against the backdrop of evolving geopolitical dynamics and growing political momentum to diversify energy toward non-traditional sources, recent meetings have highlighted Azerbaijan’s strategic importance.
“The meeting in Baku emphasized Azerbaijan’s key role in increasing Europe’s energy security through diversification of gas supplies. However, its importance is due not only to its huge reserves of natural gas, but also to the huge potential of wind energy,” he noted.
According to the author of the article, the meetings in Baku were attended by representatives of 23 partner governments and 52 institutions and companies, these meetings indicate the strong commitment of the European Union and the Republic of Azerbaijan to a strategic partnership in the energy sector. The presence of European Commissioner Kadri Simson emphasized the importance of the EU-Azerbaijan partnership for Brussels. This collaboration covers ensuring an affordable, stable and secure supply of natural gas, promoting renewable energy production, improving energy efficiency, exploring hydrogen production, reducing methane emissions and ensuring environmental protection.
“For example, the European Commission facilitated the signing of a Memorandum of Understanding on cooperation in the field of wind energy between the Azerbaijan Renewable Energy Agency and the European industry association WindEurope. This Memorandum of Understanding opens the door for European renewable energy companies to participate in the exploitation of the enormous wind energy potential Azerbaijan, which is likely to accelerate the increase in the share of non-traditional energy in the region and contribute to supplies to Europe.
Azerbaijan has 27 gigawatts of onshore wind and solar energy potential, as well as an additional 157 GW of offshore wind energy in the Caspian Sea. Azerbaijan has set an ambitious goal for such sources to make up 30 percent of its total installed electricity capacity by 2030. This goal contributes to its excellent relations with the EU, given the latter’s desire for unconventional energy sources.
Thus, the SGC, traditionally associated with natural gas, has become a platform for cooperation that now covers renewable energy and electrification. The wind energy strategic partnership illustrates the deepening of cooperation as non-traditional forms of energy become an equal aspect of their bilateral relationship,” he added.
In addition, Cutler also mentions Azerbaijan’s significant progress in joining the Methane Emissions Initiative, which involves voluntary commitments by states to reduce global methane emissions by at least 30 percent by the end of the decade.
“Notably, Azerbaijan has updated its Nationally Determined Contributions (NDC), aiming for a 40 percent reduction in emissions, compared to the previous target of 35 percent. In addition, the country has declared the Karabakh and Eastern Zangezur economic regions as a decarbonization zone.
With the conclusion 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 energy cooperation between the EU and Azerbaijan is irreversibly deepening. Both sides share a consistent focus on ensuring the stability of natural gas supplies while ambitiously pursuing the development of unconventional energy resources. This agreement represents a strategic partnership with a shared vision for the future of the energy geo-economy, a strong foundation for advancing common interests and mitigating threats to energy security,” the author concludes.