Azerbaijan's gas export capacity is 8 billion cubic meters per year, with the potential to increase the figure to 10 billion cubic meters. This volume is too small, as the annual European demand is 400 billion cubic meters, Armen Manvelyan, an expert on international security issues, told NEWS.am.
He believes Europe is worsening its position, especially after the imposition of the 8th package of sanctions against Russia. In fact, the path of destroying the European economy has been chosen.
"Therefore, in these conditions, even Azerbaijan with its modest capabilities becomes a very important state for the EU. In general, there is no alternative to Russia in the global gas market, because Russia is the largest exporter of natural gas," the expert added.
According to him, the world order is changing, and it is very important for the superpowers to control the raw material resource and trade in this area. This struggle is manifested in the Ukrainian war, so the prolongation of the war here from an economic point of view is beneficial to the Brotherhood and the U.S., and vice versa is not beneficial to Russia and the EU.
"The U.S. benefits from oil being pegged to the dollar, as it gives Washington the opportunity to play the oil market, using its currency as leverage. But a number of countries have begun to gradually abandon the dollar and have begun to trade in other currencies, which could be the basis for creating a new world order," Manvelyan explained.
The explosion of the Nord Stream, according to his assessment, gives the U.S. an opportunity to cut off Europe from Russian gas and offer its own gas, ensuring super profits for itself.
"Germany's economic success as the locomotive of the EU is based on cheap energy from Russia. The key word is cheap, and they will never be like this again, which will lead to higher production costs and lower competitiveness of products compared to American and Chinese counterparts. Energy carriers in the U.S. are now 5-6 times lower than in the EU, forcing European producers to transport their capacities across the ocean," he concluded.