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Russia's Energy Interests in Azerbaijan
Global Market Briefings, Dec 2005, Pages: 40
- Analyzes Russia's attempts to wield influence over Azerbaijan through its leading Russian energy companies, while Azerbaijan asserts its independence through a string of high-profile deals with leading Western energy firms.
- One of a series of reports which examines the emergence of a Russian foreign energy policy based on acquisitions of energy assets in the post-Soviet space by Russian entities and analyzes the political and economic implications of a new liberal Russian energy empire.
- Factual case studies, written by leading authorities on Russian hydrocarbons and critical energy infrastructure protection, on how acquisitions are being made with conclusions drawn on Russian negotiating practices in the transfer of ownership of foreign energy assets.
Since independence, Azerbaijan's political leadership has regarded Russia's role in the region with great caution. In the mid-1990s, Russia supported the ethnic war in Nagorno-Karabakh region of Azerbaijan in order to weaken both Armenia and Azerbaijan. Azerbaijan's signing of an oil contract with leading Western firms in 1994 and the launch of energy projects sparked significant protest from the Kremlin. In order to gain Russian support for this, then President Heydar Aliyev invited Lukoil to join in the oil deal. During this period, Russia's policy towards Azerbaijan was rather chaotic and uncoordinated.
By 2000, a more coordinated policy emerged and focused on economic and energy dependence. With Russia gaining more energy and economic assets in Georgia and Armenia, Azerbaijan was ripe to become the next target. In 2003-2004, an increased number of senior Russian officials and major energy companies, such as Itera, Gazprom and RAO UES visited Baku in the hopes of participating in energy projects in Azerbaijan. While maintaining diplomatic relations with Moscow, Azerbaijan is more hesitant when it comes to close cooperation with Russian energy companies. Baku fears that if Russia gains more assets in Azerbaijan, control of these assets will be used for political purposes.
This unique study will assist energy industry professionals, policy experts, and decision makers who seek to make sense of the dynamic changes that have overcome not only the Russian energy complex but also in understanding the confluence of Russian private and public sector interest in controlling downstream assets in the former Soviet Union and Central and Eastern Europe regions.
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