The war in Ukraine has disrupted natural gas supplies to many European countries, triggering an energy crisis , affecting Europe's energy security. In this regard, the Southern Gas Corridor, a pipeline system of 3,500 km, ensuring the supply of natural gas from Azerbaijan to Europe, played and continues to play an increasingly significant role in ensuring the energy stability of a number of European countries, including Bulgaria. While the pipeline starts in Azerbaijan and ends in Italy, its route, supported by extensions and interconnections, covers a wide geographic area in Europe and Eurasia with significant growth potential. In this regard, it is obvious why the European Commission recognizes Azerbaijan as a reliable partner in pan-European gas supplies. Azerbaijan is ready to support the continuation of gas transit through Ukraine in the event of a stoppage of Russian gas supplies due to the end of the transit agreement between Russia and Ukraine after January 1, 2025. According to the President of Azerbaijan, Mr. Ilham Aliyev, his country seeks to support both the European nations and Ukraine at the same time.
Speaking at the Chernobyl Forum session entitled “Azerbaijan's Role in the New Geopolitical Environment“ on September 6, President Ilham Aliyev emphasized the role of Azerbaijan as the host of the world's largest climate conference, which will be held in November this year in Baku. President Aliyev drew attention to Azerbaijan's active efforts to bridge divisions among global actors, especially in addressing climate issues that often lead to international strife. Although not a major world power, Azerbaijan aims to promote cooperation between the global North and South.
Nowadays, countries are looking for affordable, low-carbon and, above all, secure energy supplies. The devastating impact of the global climate crisis has highlighted the need to transition to renewable energy sources. Azerbaijan's smooth transition from fossil fuels to green energy has not only diversified the country's energy mix, but also contributed to the overall fight against climate change. At COP28, Azerbaijan committed to achieving 30% renewable energy by 2030 and set an ambitious target of 40% reduction in greenhouse gas emissions by 2050. The country has an abundance of renewable energy resources, with only the Caspian region having a confirmed potential of 157,000 megawatts. Azerbaijan's recently liberated regions of Karabakh and East Zangezur, as well as Nakhchivan Province, also possess significant wind and hydropower potential. Realizing these opportunities, Azerbaijan is prioritizing renewable energy, making significant efforts and investments. Key agreements with international companies aim to generate over 25 gigawatts of renewable energy.
Azerbaijan's rich renewable energy resources not only support its own green energy aspirations, but also have the potential to contribute significantly to Europe's plan to achieve a 42.5% renewable energy share by 2030. Azerbaijan, Georgia , Romania and Hungary agreed to develop an undersea electric cable under the Black Sea as part of the “Green Energy Corridor”. This ambitious project will create the world's longest undersea power cable connecting the power systems of the Caspian region to mainland Europe.
The meeting of energy ministers in Bucharest regarding the creation of a “Green Energy Corridor” between Azerbaijan, Georgia, Romania and Hungary, held on September 3, 2024, concluded with important results on the implementation of the Quadrilateral Agreement and the transformation of Azerbaijan into a European green energy supplier. The energy ministers agreed on the creation of a joint venture that will be responsible for the implementation of the feasibility study, including the tasks related to the submarine fiber optic cable line. The ministers also expressed support for the subsequent accession of Bulgaria to the above-mentioned initiative.