ANTALYA, Türkiye, April 17. Azerbaijan has
always adhered to the concept of ensuring a balanced oil price, the
country's s Minister of Energy Parviz Shahbazov said at the Antalya
Diplomatic Forum, Trend reports.


"In principle, this is what we are doing to strengthen global
energy security. And, of course, as an oil- and gas-producing
country, we can say that we do not feel the effects of crises as
acutely. However, at the same time, we are a responsible member of
the OPEC+ organization, and there we are always on the side of
seeking solutions to various issues, including the crises we have
faced in the past. Azerbaijan has not only actively contributed to
this work but has also acted as a mediator on many issues," the
minister noted.


He emphasized that the widespread belief that oil-producing
countries enjoy significant revenues amid high oil prices does not
always correspond to reality.


"Incidentally, high prices, which sometimes give the impression
that producing countries are reaping substantial profits, do not,
in practice, fully reflect the reality. The fact is that
oil-producing or hydrocarbon-rich countries typically have
sovereign wealth funds that also invest in global financial markets
and various assets. And when stock markets decline, we certainly
feel the impact of that as well, just as we do the impact on our
imports. Sometimes the impression arises that producer countries
are immune to this. That is a misconception," Shahbazov said.


The minister also noted the importance of ensuring a balanced
oil price.


“We have always adhered to the concept of ensuring a balanced
oil price, which is important for both producer countries and
consumers, as well as for the oil and gas industry,” he stated.







Speaking about cooperation with Türkiye, Shahbazov called it an
“excellent example” of collaboration between brotherly nations in
the field of energy security.


“And, of course, our cooperation with Turkey is an excellent
example of how a group of countries, both partner and brotherly
nations, can contribute to ensuring energy security over many
years,” the minister noted.


He recalled that the projects implemented by Azerbaijan have
formed the region’s key energy infrastructure.


"Our projects, initiated by Azerbaijan, have connected the
Caspian Sea to the Black Sea via the Baku–Supsa oil pipeline, to
the Mediterranean Sea via the Baku–Tbilisi–Ceyhan pipeline, as well
as the Baku–Tbilisi–Erzurum gas pipeline. And, finally, the
3,500-kilometer Southern Gas Corridor,” Parviz Shahbazov
emphasized.