In 2050, about 10% more energy will be needed than today, and about half of it will be oil and gas, Giovanni Cristofoli, BP's regional president for Azerbaijan, Georgia, and Türkiye (AGT), said during his speech at the SPE Caspian Technical Conference, APA-Economics reports.
According to him, the reality is that oil and gas will be needed for decades. Therefore, it is important for the Caspian region to develop and continue to function as an energy hub for the wider region.
"We have a pipeline system that transports our products from the Caspian region to Europe, one of the largest markets in the world," Giovanni Cristofoli noted.