Energy Opportunities in the Greater Caspian Region: Unlocking Strategic Gains for Europe
Amid the ongoing war in Ukraine and the urgent need to reduce dependency on the Russian energy sector, the EU has intensified the diversification of its fossil fuel imports and expanded renewable energy sources in line with the REPowerEU plan to enhance overall energy security. A key aspect of this strategy has been increasing liquefied natural gas (LNG) supplies from the United States, Norway, and North Africa. However, the need for diversified energy sources persists. The Greater Caspian Region, in particular, offers substantial potential for rapidly boosting exports within a short timeframe. To fully capitalise on the opportunities in the Greater Caspian Region, European companies and governments should navigate a complex landscape of geopolitical dynamics and infrastructural commitments. Balancing the urgent need for energy security with the long-term goals of sustainable development will be crucial for the success of these endeavours.
