BAKU, Azerbaijan, June 3. Azerbaijan becomes
one of the key energy security destinations, political analyst Azer
Garayev told Trend.
He said that the 31st Baku Energy Week held in Baku has once
again demonstrated Azerbaijan's place on the global energy agenda
and its growing geoeconomic importance. The event, which brings
together government representatives, heads of international
organizations, top managers of energy companies, and investors from
different countries of the world, is not only a traditional forum
dedicated to the energy sector, but also acts as an important
platform for discussing global energy policy.
"The ideas voiced at the Baku Energy Week, which was attended by
276 companies from 46 countries, the documents signed, and the
agreements reached show that Azerbaijan is no longer just an oil
and gas exporting country. The country has become an important
participant in the new geopolitical realities emerging in the
fields of energy security, green energy transition, international
investments, and regional cooperation.
The foundation of Azerbaijan's energy successes was laid with
the Contract of the Century, signed in 1994 and considered one of
the turning points in the modern history of the country. At that
time, the main goal was to bring hydrocarbon resources to world
markets and attract foreign investments to the country. In
subsequent years, giant projects such as the Baku-Tbilisi-Ceyhan
oil pipeline, the Baku-Tbilisi-Erzurum gas pipeline, the Southern
Gas Corridor, and TANAP radically changed Azerbaijan's role on the
energy map. These projects not only brought billions of dollars in
revenue to the country's economy, but also turned Azerbaijan into
an energy bridge between Europe and Asia," he said.
According to him, today the country is entering a new stage. If
earlier the main priority was the export of energy resources, now
the agenda includes issues such as energy security, green energy,
technological innovations, and the formation of new energy
markets.
"Speaking at the opening of the Baku Energy Week, President
Ilham Aliyev noted that Azerbaijan's economic activity is very
positive today. The head of state emphasized that our rating in
leading international rating agencies is increasing year by year.
"Countries should not be blamed for having oil and gas because oil
and gas are commodities like any other. And every country uses what
it has under its soil or on the seabed in order to develop. And
that was the case for Azerbaijan in the beginning of our
independence. Oil and gas were the only way for us to survive as an
independent country. So countries should be judged not by whether
they have oil or not, but by how they use the revenues," the head
of state noted. This idea actually sounds like a brief summary of
the development path that Azerbaijan has taken over the past three
decades. At the expense of energy revenues, large infrastructure
projects have been implemented in the country, transport networks
have been expanded, social programs have been financed, and
strategic foreign exchange reserves have been formed. Today, the
fact that Azerbaijan's external debt remains low in GDP and that
financial reserves exceed debt many times over is also considered a
result of the implemented policy," the analyst said.
Garayev pointed out that the geopolitical processes taking place
in the world in recent years have once again made the issue of
energy security one of the main topics of the international agenda.
In particular, European countries have begun to pay more attention
to the diversification of energy sources.
"It's in these circumstances that the role of Azerbaijan has
significantly grown. The figures announced by President Ilham
Aliyev confirm this once again. According to the head of state, the
number of countries to which Azerbaijan exports gas has increased
from 12 to 16 in the past year. 10 of these countries are members
of the European Union. This fact shows that Azerbaijan is no longer
one of the important participants in energy security on a regional,
but on a continental scale. In his speech, the President also
emphasized that the country's energy potential is sufficient for
long-term prospects: "With our gas reserves, which will be
sufficient for at least 100 years—not only for us but also for our
clients—we actually do not need any other source of electricity
generation." This statement is an important signal that the
position of Azerbaijani gas in the European market will continue to
strengthen in the future," Garayev explained.
The analyst underscored that one of the most notable events of
the Baku Energy Week was the start of the first free natural gas
production from the Azeri-Chirag-Gunashli (ACG) field block.
"For many years, ACG, known as the main oil project of
Azerbaijan, is now creating new opportunities in terms of gas
production. This both increases the country's export potential and
creates conditions for more efficient use of the existing energy
infrastructure. New gas volumes can expand Azerbaijan's supply
opportunities to Europe, and at the same time form an additional
base for future energy projects. The new stage launched in the ACG
project is an important part of the long-term development strategy
of the energy sector of Azerbaijan," Garayev noted.
According to him, the international prestige of the Baku Energy
Week was also reflected in the high-level appeals sent on the
occasion of the event.
"In his address, U.S. President Donald Trump highly appreciated
Azerbaijan's contributions to energy security and emphasized the
country's strategic importance for the region. He noted that
Washington is interested in expanding energy cooperation with Baku.
Turkish President Recep Tayyip Erdoğan stated that the strategic
partnership established between Azerbaijan and Turkey in the energy
sector has changed the energy map of the region. He emphasized that
projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Erzurum, and
TANAP are of great importance not only for the two countries, but
also for the Eurasian space as a whole. UK Prime Minister Keir
Starmer also drew attention to Azerbaijan's growing role in the
field of energy security and green energy in his address. He noted
that the country's investments in renewable energy projects create
new opportunities for international cooperation. The fact that the
leaders of the U.S., Türkiye, and the UK addressed the Baku Energy
Week with special addresses demonstrated that the forum is in the
spotlight not only regionally, but also globally," the analyst
said.
Garayev noted that one of the most discussed topics at the event
was green energy.
"Azerbaijan has begun to implement large-scale projects in the
field of renewable energy in recent years. The rich wind potential
of the Caspian Sea, the country's solar energy capabilities, and
the growing interest of foreign investors open up new prospects in
this direction. According to President Ilham Aliyev, by the end of
next year, the country's solar and wind energy production capacity
is expected to reach 2 gigawatts. By 2032, this figure is planned
to increase to 8 gigawatts.
Azerbaijan is also working on international projects that
envisage the export of green energy to Europe via the Black Sea.
Energy initiatives implemented with Central Asian countries are
also part of this strategy. It's no coincidence that, as the
country that hosted COP29, Azerbaijan pays special attention to the
green energy agenda. Baku is now presenting itself not only as a
hydrocarbon producer, but also as an active participant in the
energy transition," he noted.
The analyst said that one of the main results of the Baku Energy
Week is the numerous cooperation documents signed.
"SOCAR has reached cooperation agreements with the world's
leading energy and financial companies in various areas. The
documents signed with companies such as Shell, Chevron, Comstock
Resources, J.P. Morgan, and Apollo Capital Management indicate
continued international interest in Azerbaijan's energy sector. New
agreements on the sale of gas from the Absheron field, cooperation
on the gas turbine power plant project in Serbia, documents on the
application of artificial intelligence technologies in the energy
sector, and partnerships with international universities were among
the practical results of the forum.
One of the areas that attracted particular attention was
cooperation on critical minerals and rare earth elements. This area
is considered one of the most strategic areas of the global economy
in recent years. Azerbaijan's expansion of partnerships in this
area indicates the country's intention to play a role in resource
markets of strategic importance beyond the energy sector in the
future," he said.
According to him, the 31st Baku Energy Week shows that
Azerbaijan is no longer perceived only as a country that produces
and exports energy. The country has become one of the important
participants in the processes taking shape in the field of energy
security, international transport routes, green energy transition,
and new technologies.
"Today, Baku plays the role of a platform where various
interests and partnerships intersect. Not only energy contracts are
signed here, but also discussions are held on the energy map of the
future. At a time when uncertainties persist in global energy
markets and energy security remains one of the main topics of
international politics, the message from Baku is quite clear:
Azerbaijan continues to strengthen its position as a reliable
supplier, strategic partner, and one of the active authors of new
energy initiatives," the analyst added.
