BAKU, Azerbaijan, October 26. Investment
decisions must be made today in light of growing demand for natural
gas, Azerbaijani Minister of Energy, Parviz Shahbazov said at the
28th Ministerial Meeting of the Gas Exporting Countries Forum
(GECF), currently taking place in the Russian Federation.
This was announced in a statement published by the country's
Ministry of Energy.
In his speech, the minister addressed challenges in the global
gas market, the growing role of natural gas in energy security,
investment needs, and Azerbaijan’s gas policy.
In addition, it was noted that geopolitical tensions, security
risks along supply routes, and shifting priorities in energy policy
are increasing uncertainty in the gas market. At the same time, the
electrification of the economy, the development of artificial
intelligence and data centers, as well as the need to balance
renewable energy, are strengthening the strategic importance of
natural gas.
Furthermore, it was emphasized that limiting investment in the
gas sector amid growing demand poses risks to future supply
security. “Investment decisions for reliable gas supplies tomorrow
must be made today,” the minister stated.
Speaking about Azerbaijan’s gas strategy, which is based on
energy security and long-term partnerships, the minister noted that
the Southern Gas Corridor is a successful model of cooperation.
It was noted that Azerbaijan has expanded its gas production and
export capacity and increased its participation in international
gas projects to meet growing demand. It was noted that policies on
renewable energy and energy efficiency support the country’s gas
export policy.
The minister emphasized the importance of cooperation within the
framework of the Global Gas Corridor to maintain stability in the
global gas market, attract investment, and strengthen dialogue
between producers and consumers.
Meanwhile, Azerbaijan has been represented at the Forum as an
observer since 2015.
