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International Economic Relations

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Azerbaijan: Europeanisation Versus Real-Politics


13653101_1106232216131915_5752547286193939555_oSince gaining its independence, Azerbaijan’s foreign policy is oscillating between security priorities and normative transformation. Following the dissolution of the USSR, newlyindependent Azerbaijan opened a new dimension of its foreign policy in the direction of the West. The successful realisation of the Baku-Tbilisi-Ceyhan oil pipeline and Baku-Tbilisi-Erzurum gas pipeline, as well as the whole East-West energy corridor paved the way for the economic integration of Azerbaijan into Europe. Continue reading

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Removal of sanctions from Iran: What does it promise for the Southern Gas Corridor?


Developments in the international relations system are unpredictable. It rapidly shifts from one phase to another, from cooperation to conflict or vice versa. The new alteration in the international order will be the Iran-West rapprochement, which has been initially observed following the interim nuclear agreement in November 2013 between Iran and P5+1 countries Continue reading

Resurrection of Nabucco Pipeline: Real or Myth?


Background

The energy history of East-West energy corridor has not started with Nabucco, but Nabucco was considered a crown-jewel of the Southern Gas Corridor. Nabucco Consortium was established with Ankara Agreement in 2009 by Turkey, Romania, Bulgaria, Hungary and Austria to construct Nabucco gas pipeline with 31 bcm capacity from Turkey via Bulgaria, Romania and Hungary to Austria. Nabucco was planned to be linked with South Caucasus Pipeline in Erzurum, Turkey and Trans-Caspian Pipeline (TCP) in Azerbaijan to deliver Azeri and Turkmen gas to Europe to decrease the EU’s gas dependence on Russia. Continue reading

Repercussions of Turkish Stream for Southern Gas Corridor: Russia’s New Gas Strategy


Photo credit: Business Insider

Photo credit: Business Insider

Background

On December 1 2014, during his official visit to Turkey, Russian President Vladimir Putin announced the suspension of South Stream, blaming the EU for its “unconstructive” position. In fact, the realization of pipeline had become untenable as a result of various legal, political and financial issues, such as the EU’s Third Energy Package, the Ukraine crisis and the ensuing sanctions over companies involved in South Stream (Stroytransgaz and Gazprombank). Continue reading

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