Despite existing restrictions on investment in the oil and gas sector, energy production in Azerbaijan is entering a new stage of strategic development, Azerbaijan's Energy Minister Parviz Shahbazov stated at the 31st Baku Energy Forum, APA-Economics reports.
According to him, the launch of the first production under the free natural gas project in the Azeri-Chirag-Gunashli block is a clear example of this.
The minister added that the development of the Karabakh project is expected to begin in 2027, while full-scale development of the Absheron field, the second phase of the Umid project, and the commissioning of the Bahar-Gum Deniz gas projects are expected in 2029.
“Exploration projects carried out onshore and offshore, as well as SOCAR’s investments in the Middle East, Central Asia and Africa, will enable Azerbaijan to continue its role as a reliable oil and gas producer and supplier for many years. Today, Azerbaijan’s strategic importance is determined not so much by the volume of energy it produces, but by how effectively it connects regions and markets,” Parviz Shahbazov noted.
The minister emphasized that Azerbaijani oil is supplied to more than 20 countries. The number of countries to which Azerbaijan exports natural gas has reached 16, making the country one of the world’s leading nations in terms of the geographical reach of pipeline gas exports.
Parviz Shahbazov added that last year, Azerbaijan supplied 8.1% of the European Union’s pipeline gas imports. Over the past year and during the first four months of this year, Azerbaijan exported 16.7 billion cubic meters of gas to Europe, 12.8 billion cubic meters to Türkiye, and 3.3 billion cubic meters to Georgia, while 800 million cubic meters of gas were supplied to Syria.
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