BAKU, Azerbaijan, June 2. Japanese INPEX
company is interested in establishing a new stage of long-term
collaboration with Azerbaijan, Executive Officer and Senior Vice
President for Europe and Middle East Projects at INPEX, Munehiro
Hosono, said at a panel discussion held on the second day of Baku
Energy Week, Trend
reports.


According to him, INPEX believes in the importance of
implementing the energy transition based on energy security,
economic realities, and the actual state of the market. The
company's "INPEX Vision 2032" strategy is also built on these
principles.


Hosono noted that due to its relatively low carbon emissions,
natural gas will continue to play an important role in the near
future, especially in regions where stable and large-scale energy
supplies are needed for economic development.


He said that the company's strategy, in addition to
strengthening its existing oil and gas projects, includes three
main development directions. These are the expansion of the natural
gas and power business, the development of technologies aimed at
reducing carbon emissions, including carbon capture and storage
(CCS) and hydrogen projects, as well as the application of advanced
technologies in the energy and natural resources sector.


Hosono underscored that INPEX has extensive experience as a
company operating at all stages of the energy value chain, from
production to liquefaction, transportation, and marketing. The
Ichthys LNG projects in Australia and the Abadi LNG projects in
Indonesia are clear examples of this.


He pointed out that INPEX has been a partner in the
Azeri-Chirag-Gunashli (ACG) field block since 2003 and has a stake
of approximately 10% in the project. ACG remains an important asset
for the company with a long-term production history.







"As the project moves into a more mature development phase,
efficient field management and operational excellence become even
more important. INPEX has grown through its participation in the
ACG project and is now striving to contribute to ensuring
sustainable development," he said.


The company's official mentioned that the company views
Azerbaijan not only as an existing asset base, but also as a
country with great future potential.


"Our experience in gas field development, offshore project
implementation, and practical low-carbon solutions such as CCS can
create added value in Azerbaijan. We see serious opportunities to
expand our cooperation through participation in new projects,
further development of existing assets, and application of
efficient technological solutions," he emphasized.


Hosono added that INPEX is committed to a real and responsible
energy transition and is interested in building a new phase of
long-term cooperation with Azerbaijan.