Shahbazov: Azerbaijan is among few countries ensuring secure energy supply

Secure delivery of energy resources is the key factor today, and Azerbaijan is one of the few countries capable of ensuring this, Azerbaijani Energy Minister Parviz Shahbazov stated at the 31st Baku Energy Forum, Report informs.

The minister noted that the Hormuz crisis and disruptions in the supply of one-fifth of global oil and liquefied natural gas (LNG) have heightened the importance of energy security: "This uncertainty increases Azerbaijan's significance. We are turning the Caspian Sea into a major hub of activity."

Despite investment limitations in the oil and gas sector, Shahbazov emphasized that Azerbaijan"s energy production is entering a new stage of strategic development: "The launch of production under the associated gas project at the Azeri–Chirag–Gunashli (ACG) block is a clear example of this. In 2027, the Karabakh oil field will be commissioned, while in 2029, the Shah Deniz compressor project, the full-scale development of the Absheron field, and the commissioning of Umid Phase-2 and Babak gas projects are expected."

The minister added that ongoing exploration projects both onshore and offshore, along with SOCAR's investments in the Middle East, Central Asia, and Africa, will enable Azerbaijan to remain a reliable oil and gas producer and supplier for many years to come.