Azerbaijan has strengthened its position in the global energy market through investments made in the energy sector in recent years, said Pattabi Seshadri, Managing Director and Senior Partner at Boston Consulting Group (BCG), during the session titled “Leaders’ Speeches: Leaders’ Perspectives on Energy Transformation and Future Strategies” at the Baku Energy Forum, APA-Economics reports.
According to him, interest in Azerbaijan has increased significantly in recent years.
“It is wonderful to be back in Baku after several years. The energy and dynamism here are remarkable. This is the result of investments directed into the country. One could say that the rest of the world has rediscovered this hidden gem,” he said.
Seshadri noted that a report recently published by BCG and INSEAD identified competitiveness and trust as key elements of the energy transition.
According to him, Azerbaijan is well positioned in both areas.
“The country’s oil, gas and renewable energy resources are competitive. Azerbaijan is in a stronger position than many regions of the world, particularly for sectors such as data centers that are creating new energy demand,” he stressed.
The BCG executive stated that Azerbaijan also enjoys strong advantages in terms of the reliability of energy supply. At the same time, new infrastructure projects are needed to fully realize the country’s gas potential.
According to him, the creation of new consortiums and partnerships will play an important role in achieving this goal.
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