THE ROLE OF THE ENERGY POTENTIAL OF AZERBAIJAN IN THE EUROPEAN UNION ENERGY SUPPLY

Abstract

The article comments on the important role of the Republic of Azerbaijan in the energy security of Europe as the leading country in the South Caucasus. There are many international organizations have written about it. As well as, there are the key sides in the strategic partnership have highlighted many agreements between the European Union countries and the Republic of Azerbaijan. The article highlights the increasing strategic importance of Azerbaijan in the European energy supply. The energy resources of Azerbaijan, as well as the role of a bridge between Asia and Europe, once again prove the relevance of the article. Baku-Tbilisi-Ceyhan and Baku-Tbilisi-Erzurum pipelines have served to boost relations between EU and Azerbaijan. The European Union, along with giving its support to international projects, also boosts its economic significance. The Contract of the Century, which was signed between the two sides, was a turning point in the Republic of Azerbaijan. Apart from the technical and economic significance of this main export oil pipeline, its political role is also great. This pipeline will give impetus to the re-establishment of relations between the world states, especially European Union and the Azerbaijani state, as well as Caucasus region.