Parviz Shahbazov: Long-term contracts support is necessary for large gas supplies to Europe

If Europe expects large volumes of gas supplies, it must support long-term contract mechanisms.

As reported by BAKU.WS with reference to Report, this was stated by Azerbaijan's Minister of Energy Parviz Shahbazov at the ministerial session within the framework of the Natural Resources Summit in Istanbul.

The minister emphasized that otherwise, investing large funds in gas production could be risky without guarantees of its delivery to the final destination and sale on the market.

According to him, Turkey is of great importance not only as a consumer but also as a transit country through which Azerbaijani energy resources reach European states.

He emphasized that Azerbaijan maintains its strategic role as an oil and gas supplier, continues to implement joint projects with Turkey, and plans to supply it with about 10 billion cubic meters of gas this year.

"Turkey for Azerbaijan is not only a consumer but also a transit country. Through it, gas flows to Europe," added Shahbazov.

The minister noted that anti-carbon policies lead to reduced investments in the gas sector in the global energy system and to a shortage of infrastructure necessary for delivering energy resources to markets, and ultimately hinder gas supply plans.

Regarding "green energy" interconnectors, the minister said that Azerbaijan is cooperating on this issue with Turkey, Georgia, Romania, Bulgaria, and Central Asian countries.

"These projects will not only connect regions but will also serve both energy and climate security. These are the energy projects of the future," added the minister.

Ministers from Iraq, Egypt, Libya, Bulgaria, Romania, and Moldova also participated in the discussions. The moderator was Turkey's Minister of Energy and Natural Resources, Alparslan Bayraktar.