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Tuesday, August 22, 2017

Azerbaijan expected to play critical role in Europe's energy security

Daniel Stein, the senior advisor on energy resources in the U.S. State Department, said last week that Azerbaijan will play an important role in the energy security of Europe.

Stein spoke at the 21st Caspian International Oil and Gas Conference in Baku, where he said the recent crisis in Ukraine makes Azerbaijan's role more important.

"The global energy market is evolving, and the energy developments in Azerbaijan is just one piece of the complex puzzle," Stein said.

Stein said Europe's national security is highly interconnected with U.S. security. Last year, Europe enhanced its energy security with its investment in the Shah Deniz II field to help the continent diversify its sources of hydrocarbon supply.

"The Southern Gas Corridor will bring new supply sources and new supply routes for the EU," Stein said.

The U.S. has expressed support for the EU's efforts to create a legal basis for the Trans-Caspian pipeline. The EU is currently negotiating with Azerbaijan and Turkmenistan on the project.