Today, energy security is more than ever an integral part of the national security of countries, President Ilham Aliyev said during the opening ceremony of the 13th Global Baku Forum, APA reports.
“Another important issue which we can also share our experience on, especially now, is energy security, which is now to a certain degree disrupted. We see that the unprecedented rise of oil and gas prices creates a lot of problems for consumers — and not only for consumers. If somebody thinks that this unbalanced price is good for those who produce and export oil, it's wrong, because many countries which produce and export oil and fossil fuels have sovereign wealth funds, and these sovereign wealth funds invest in different instruments, in treasuries, and when the stock market collapses, the countries lose more on stock markets than they earn from the high oil price. Therefore, we as a responsible member of the OPEC Plus format are in favor of a balanced and predictable oil price, and our efforts in OPEC Plus, as a mediator and as a country which invested a lot in finding a common solution, are highly appreciated. So today, energy security is more than ever an integral part of the national security of countries,” the head of state emphasized.
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