Perspective Analysis of Opportunities and Difficulties of Azerbaijan’s Participation in Reducing Europe’s Dependence on Russian Gas

The most affected market after Russia's intervention in Ukraine is the energy market. What has happened in this market has entered a very difficult phase to predict. On the one hand, the European Union, the United States, and the United Kingdom want to get rid of their dependence on Russian energy resources; on the other hand, they are looking for alternatives to stabilize prices on world markets and are negotiating with the world's largest oil and gas exporters. But it is still impossible to talk about stabilizing prices or reducing dependence on Russian energy resources because it depends on the time. It seems that in 2022, despite the efforts to achieve this, it will not be easy to achieve significant results. Because provides 10 percent of the world’s oil and more than a third of the European Union’s (EU) natural gas. According to Eurostat , Russia has a 43.9 percent share in EU gas imports in 2020