Parviz Shahbazov: Azerbaijan is one of the few countries ensuring secure energy supplies

Currently, the key factor in the energy sector is the security of resource supplies, and Azerbaijan is among the countries that ensure this process.

As reported by BAKU.WS with reference to Report, this was stated by Energy Minister Parviz Shahbazov at the 31st Baku Energy Forum.

According to him, the Hormuz crisis and global disruptions in oil and liquefied natural gas (LNG) supplies have increased the importance of energy supply reliability. "This uncertainty enhances Azerbaijan's significance. We are turning the Caspian Sea into a key activity zone," he noted.

The minister added that despite existing investment constraints in the oil and gas sector, energy production in Azerbaijan is entering a new stage of strategic development. He cited the launch of the first phase of associated gas production under the Azeri-Chirag-Gunashli (ACG) block of fields project as an example.

It is also expected that in 2027 the Karabakh oil field will be commissioned, in 2029 - compressor units at Shah Deniz, and full-scale development of the Absheron field, as well as the implementation of the Umid-2 and Babek gas projects, are also planned.

Shahbazov noted that exploration projects both onshore and offshore, as well as investments by the State Oil Company of Azerbaijan (SOCAR) in the Middle East, Central Asia, and Africa, will allow the country to maintain its role as a reliable oil and gas producer and supplier in the long term.