THE INCREASING GEOPOLITICAL AND GEOECONOMIC IMPORTANCE OF AZERBAIJAN IN CASPIAN BASED OIL PROJECTS

Abstract

Azerbaijan stands out as a critical country in terms of Caspian-based energy projects. Because Azerbaijan has rich oil and natural gas resources. In addition, the signing of an agreement with Turkmenistan on the joint operation of the oil field in the Caspian Sea, which is described as "Friendship", in 2021 has increased the importance of Baku in energy geopolitics. Moreover, Azerbaijan is not only an important supplier, at the same time, it reinforces its geopolitical and geoeconomic importance as a route country for other states bordering the Caspian. Because it has ready infrastructures such as Baku-Tbilisi-Ceyhan Oil Pipeline and Baku-Supsa Oil Pipeline. It is also possible to develop the volume that these pipelines can carry. Considering that especially after the Russia-Ukraine War that started on February 24, 2022, the Northern Corridor was clogged, Western states that imposed sanctions targeting the Moscow administration turned to Caspian-based energy projects and these countries implemented a ceiling price on oil to Russia, the process is special. As a result, it can be said that he brought Azerbaijan and the Caspian countries in general to the fore. In other words, Baku has become a key actor in oil projects to be carried out in cooperation with the Caspian riparian states. Moreover, through these projects, win-win based economic relations will be developed and Azerbaijan's gains will increase. In this study, the increasing geopolitical and geoeconomic importance of Azerbaijan in Caspian-based oil projects is discussed.