CONTEMPORARY EURASIA VOLUME VI (1) Contemporary-Eurasia-VI-1-engl | Page 20

ARMEN MANVELYAN
prices are changing energy politics in the South Caucasus. This has
lowered the importance of Azerbaijan as an oil exporting country,
which in turn has had an impact on the South Caucasus as an oil
transit route. Consequently, this situation would allow other countries
to create their energy systems in the region in partnership with
contiguous states.
The Eurasian Economic Union’s vision to create a single economic
and energy space can be a trigger for creating the new energy transit
corridor involving Armenia as an EAEU member country, as well as
Georgia and Iran as neighbors. The realization of this project can
change the perception of the South Caucasus as a region transiting
Azerbaijan's gas and oil resources. At the same time, it can give the
EAEU an opportunity to increase its influence in the region with the
help of Armenia and this new energy project.
The significance of this study is in its analysis of the energy factor
as the central motive in the inner workings of the EAEU initiative, and
the energy policy – as a factor of pushing it forward. Its findings
would help fully understand the mechanisms, methods and metrics for
measuring “energy weights” – or the extent of influence each
particicpating state would be able to exercise. The basis of this study
then will be assessing the possible gains and losses of all players.
The impact of the energy politics on the South Caucasus
Energy politics has a crucial influence on the relations of
independent states. All countries - irrespective of whether they are
energy exporters or importers - heavily depend on this factor. Energy
consumption in the world is constantly increasing, which means that
the influence of the factor of energy in the world will grow over time.
This was one of the reasons why after the collapse of the Soviet Union
the South Caucasus with its small oil and gas resources and transit
potential attracted the attention of large consumer countries. The high
oil prices in the early 2000s only increased the interest in this region
and a number of multinational companies were ready to invest in the
Azerbaijan oil deposits and transit infrastructures 2 .
2
Walsh. M., A Smell of Oil, The Dublin Review, Issue No. 13 Winter 2003–4.
https://thedublinreview.com/article/a-smell-of-oil/
20