Rovshan Najaf: The energy sector has experienced an investment deficit for many years

The global energy sector has been experiencing an investment deficit for many years.

As "Report" informs, this was stated by the President of the State Oil Company of Azerbaijan (SOCAR) Rovshan Najaf during a panel discussion at the Baku Energy Week.

"As in the oil and gas industry, investments in energy projects do not yield results in the short term, and for this reason, a certain gap between supply and demand may emerge in the future," he noted.

At the same time, the SOCAR president believes that improving energy efficiency can offset a certain portion of demand: "In particular, artificial intelligence technologies are expected to help both companies and households use energy more efficiently. Changes in the energy market are occurring very rapidly, and for this reason, making long-term forecasts is difficult. Three years ago, one of the main topics of discussion was competition for human resources in the renewable energy sector. Today, attention is largely focused on artificial intelligence and data centers. Over the past three years, the energy sector's agenda has changed significantly."