LONDON, Dec. 11 (UPI) -- Baku includes the European Union in its potential customer base for gas but needs to explore all economic opportunities, energy executives said.
Europe aims to diversify an energy sector that depends on Russian resources by courting potential suppliers in the Middle East and in the Caspian region.
A row between Kiev and Moscow in January strained the issue with Russian dependence. Roughly 80 percent of Russian gas bound for Europe travels through Ukrainian territory, and the January dispute left European customers in the cold for weeks.
Azerbaijan has emerged as a potential alternative energy supplier, moving on deals with the European Union and Russia.
Elshad Nasirov, the investment and marketing vice president at the State Oil Co. of Azerbaijan Republic, said Baku needed to make appropriate economic decisions in terms of supplies, the Trend news agency reports.
"Our priority is the European Union, but we need investment and we need participation from other countries," he said during a London investment conferment.
He added SOCAR was in talks with regional partners to find new ways to export Azeri gas to European customers, but stressed Russia would remain the dominant gas supplier for Europe.
"We cannot compete with Russia," he said. "It is and will be for many years the biggest gas supplier."
