Turkish moves to mend relations with Armenia may harm the European energy sector as resource-rich Azerbaijan eyes moves toward Russia in response.
Turkey moved toward normalizing relations with longtime foe Armenia following a visit to Ankara by U.S. President Barack Obama. The situation bodes well for Ankara's ties to the European community but could have a ripple effect on relations with oil-rich Azerbaijan. The Czech presidency of the European Union on Friday hosted a major summit in Prague to hammer out energy security in the region, calling for implementation of measures on the long-awaited Nabucco pipeline "as soon as possible."
The Prague summit brought together energy giants from the Middle East and Caspian region to work in harmony in the regional oil and gas sector, but with Azerbaijan deeply offended by Turkish moves toward Armenia, efforts toward unity could unravel, Britain's The Daily Telegraph noted.
Azerbaijan sits on some of the richest resource fields in the world, notably the Shah Deniz gas field and the Azeri-Chirag-Guneshli oil complex. The EU puts considerable weight on those resources, particularly as Prague urges swift action on Nabucco. The Prague summit brings delegates from Turkmenistan and Azerbaijan together on energy-security issues, but securing gas from the Caspian region may require additional diplomatic efforts beyond oil and gas contracts.
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