Energy Diplomacy of President Ilham Aliyev Strengthens Azerbaijan's Global Investment Positions

Based on the strategic course defined by the head of state, Azerbaijan consistently strengthens its position as an attractive partner for major transnational investments. Recently signed strategic agreements and systematically implemented reforms clearly demonstrate that our country has moved beyond regional boundaries and transformed into an investment center where global economic interests converge.

An important stage in this process, as previously reported, was the share purchase agreement in the Southern Gas Corridor CJSC signed in February of this year between the Ministry of Economy of the Republic of Azerbaijan and XRG, a UAE-owned company that serves as the international investment arm of the Abu Dhabi National Oil Company (ADNOC). The document was signed in the presence of President of the Republic of Azerbaijan Ilham Aliyev and UAE President Sheikh Mohammed bin Zayed Al Nahyan by Azerbaijan's Minister of Economy and Chairman of SOCAR's Supervisory Board Mikayil Jabbarov and XRG Executive Chairman and UAE Minister of Industry and Advanced Technology Sultan Al Jaber.

The Southern Gas Corridor (SGC) is a key export route ensuring the delivery of abundant Caspian Sea natural gas reserves to the markets of Azerbaijan, Georgia, Turkey, and Europe. The SGC consists of four significant components: the Shah Deniz gas condensate field and its full-scale development, the South Caucasus Pipeline and its capacity expansion, as well as the operation of the Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) pipelines.

The Success Story of the Southern Gas Corridor

Let us take a brief look at history. The large-scale SGC project, initiated by President Ilham Aliyev many years ago, was technically and economically complex and required extensive international cooperation. Azerbaijan launched such a large-scale international project for the first time. Despite all challenges, thanks to competently conducted energy policy, strategic planning, and engagement of foreign partners, our country successfully achieved all project-related goals.

At the VIII Ministerial Meeting within the framework of the Southern Gas Corridor Advisory Council, Ilham Aliyev noted: "I believe that coordination at the national level helped us implement this giant project - the Southern Gas Corridor, which is one of the largest projects of the 21st century." In this context, it should be emphasized that, thanks to the President's forward-looking policy, the SGC was recognized as a strategic project contributing to both national interests and regional and global energy security. The implementation of Ilham Aliyev's initiative established Azerbaijan as a reliable partner in diversifying Europe's energy supply.

All leading international financial institutions contributed to the implementation of the SGC - the World Bank, European Bank for Reconstruction and Development, Asian Development Bank, European Investment Bank, Asian Infrastructure Investment Bank - which became one of the important factors ensuring its high efficiency. Thus, the SGC project, capable of ensuring the delivery of large volumes of Azerbaijani gas to world markets, was successfully implemented