Expert: New EU-Azerbaijan memo shows growing importance of Baku

The memorandum on strategic partnership in the energy sector, signed between Azerbaijan and the European Union, testifies to the growing importance of Baku in the international arena, especially in matters of energy security, Irina Zuckerman, an American journalist, security analyst and lawyer, said in an interview with Report, commenting on the signing of this document by Azerbaijani President Ilham Aliyev and European Commission President Ursula von der Leyen in Baku on June 18.

In the current situation, relatively small energy suppliers, like Azerbaijan, are starting to play a much more important role, as they not only guarantee access to energy sources, but also help to level out steep price increases and block market collapse, she said.

The memorandum signed with the EU indicates that Baku is now a strong ally of Europe in preventing the abuse of growing market control by large energy suppliers to world markets.

The sources of today's energy crisis are the product of several factors, Zuckerman said. These are the unusually cold winters of the last two years, which led to an increase in gas consumption by as much as 25% not only in Europe but also in Asia, droughts and heat on both continents, in recent years, which also led to additional energy consumption, the lack of European 'green' programs, and the military actions in Ukraine.

The combination of EU domestic and foreign policy has brought the continent to crisis. Having fallen into dependence on external energy sources, EU countries are now unable to guarantee free access to oil and gas, while trying to both dissociate themselves from this dependence and not bring the economy to collapse, Zuckerman said.

If gas supplies from Russia to the European Union are ceased, up to 6 million German citizens may be out of work.

“Europeans are in a hurry to find alternative solutions, but this is not easy, as long-term contracts for oil and gas supplies are negotiated years in advance. A sudden increase in consumption means that suppliers will also have to suddenly reorganize, recruit employees, etc. trying to catch up market needs," Zuckerman said.

According to her, EU's dependence on the so-called gas monopoly of Russia, Qatar and other countries complicates the situation.

"Switching to gas purchases from Qatar does not at all mean resolving the crisis and ensuring energy security. Firstly, Qatar cannot immediately start supplying as much as it needs, and secondly, it coordinates its prices with partners in Moscow," the expert said.