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The Washington Times: Azerbaijan is well-stocked energy provider

11 December 2013 [15:08] - TODAY.AZ
“The Washington Times” has issued an article titled “Caspian energy equals American security” by Representative of the First District of Oklahoma Jim Bridenstine.

The article says: “In a landmark achievement, the United States recently surpassed Russia as the world’s largest combined producer of oil and gas according to an October 2013 Wall Street Journal analysis of International Energy Agency statistics. This milestone was reached because private capital and innovative entrepreneurs took calculated risks striving for access to new energy resources and the tools to produce and distribute them more efficiently. The “Fracking Revolution,” which could secure America’s energy future for generations, is testament to the technological advancement brought by free enterprise and open markets.

Unlike some other former Soviet satellite states, Azerbaijan has taken great risks to achieve political independence from Russia and a secure energy future. It is utilizing western companies, free markets, and private capital to conduct Caspian Sea-based energy exploration and distribution. Azerbaijan’s wise decision is now providing energy security for our European allies and friends. To avoid another Ukraine debacle, U.S. foreign policy must support Azerbaijan’s energy development through both diplomatic assistance to protect Azerbaijan from Russian interference and increased security cooperation with Baku to safeguard its facilities and pipelines. Congress should take the first step by repealing Section 907 of the antiquated U.S. Freedom Support Act, a provision which unnecessarily inhibits U.S. cooperation with Azerbaijan. Protecting Azerbaijan’s energy renaissance supports foundational U.S. foreign policy objectives of ensuring our allies’ political independence and free markets.

Squeezed between Russia and Iran, Azerbaijan is an unlikely energy powerhouse. Yet, Azerbaijan ranks 21st in proven oil reserves and 26th in gas according to the U.S. Energy Information Administration (EIA).2 Azerbaijan’s government reports that oil production more than tripled to almost one million barrels per day since 2000. Gas production in the Caspian’s Shah Deniz field skyrocketed to over 580 billion cubic last year even prior its full development. With an EIA-estimated 30 trillion cubic feet of gas reserves, Azerbaijan is well-stocked to provide energy security for our European friends into the future.

We should also carefully note who produces and to whom Baku distributes its energy riches. Rather than opt for a state-controlled top-down system, Azerbaijan became the first country to open the Caspian to U.S. energy companies. American and Western energy firms are major partners in resource exploration and production and also development of an expanding pipeline network. EIA notes that Azerbaijan’s state oil company only accounts for 20 percent of total petroleum output. U.S. companies such as Chevron, ConocoPhillips, and ExxonMobil, among others are big shareholders in the Shah Deniz field consortium and pipeline network.”
The author stresses that Azerbaijan’s energy boom – a genuine partnership with private enterprise – provides an additional way to ensure energy security. The United States should fully support Azerbaijan’s energy development.


/AzerTAc/

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