Baku:Azerbaijan is making significant strides in expanding its oil and gas exports to European markets and nearby countries, according to Gaurav Sharma, an energy analyst and senior contributor to Forbes.

According to Azerbaijan State News Agency, the Shah Deniz project, launched in the 2000s and 2010s, was pivotal in establishing Azerbaijan as a key player in the global energy market. The Southern Gas Corridor and Phase 2 of the Absheron project are expected to further enhance Azerbaijan's gas export capabilities.

Sharma emphasized that these projects are increasingly crucial amidst geopolitical tensions, particularly as Europe aims to reduce its reliance on Russian energy. Azerbaijan's resources are seen as partially bridging the energy gap, with potential benefits for countries like Italy, Croatia, Türkiye, Georgia, and Armenia. The growing importance of the Southern Gas Corridor was also highlighted, noting its role in solidifying Azerbaijan as a dependable energy supplier to Europe.

The analyst also noted the reliable performance of the Baku-Tbilisi-Ceyhan pipeline and the significance of international partnerships, including those with companies like XRG, TotalEnergies, and SOCAR, in enhancing the region's energy sector. Azerbaijan's natural gas production, approximately 50.6 billion cubic meters annually, underpins its strategic role in Europe's energy landscape.