The situation in the Strait of Hormuz has a serious impact on global energy security, said Azerbaijan’s Minister of Energy Parviz Shahbazov during his speech at the 5th Antalya Diplomacy Forum, APA’s correspondent dispatched to Antalya reports.
The minister stated that approximately 12 million barrels of oil per day appear to be blocked in the Strait of Hormuz.
According to him, a certain portion of this is directed to Europe, and more than 8% of liquefied natural gas, 7% of oil, as well as 40% of aviation fuel and diesel are delivered to Europe via this route.
Parviz Shahbazov noted that for this reason, Europe is in a sensitive position regarding developments in the Strait of Hormuz.
At the same time, the minister, emphasizing that 90% of energy supplies are directed to Asia, added that the issue is not limited to Europe and that the crisis has a global nature.
The minister stressed that energy security is not an area that can be established in the short term, and that both the current situation and long-term perspectives must be taken into account in this direction.
He said that Azerbaijan has been diversifying its oil and gas supply for years and currently exports the oil it produces to around 20 countries worldwide, including states in Europe and Asia.
Parviz Shahbazov added that in recent years, Azerbaijan has also expanded natural gas exports to European countries, and currently, 10 out of the 16 countries receiving gas supplies are members of the European Union.
The minister noted that Azerbaijan acts as a responsible partner within OPEC+ and, while actively participating in addressing issues arising in the global energy market, also assumes a mediating role in some cases.
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