Energy Minister: Investment decisions must be made today amid growing demand for natural gas

Minister of Energy Parviz Shahbazov participated in the 28th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) held in the Russian Federation.

In his speech, the Minister highlighted the challenges facing the global gas market, the growing role of natural gas in ensuring energy security, investment needs, and Azerbaijan’s natural gas policy.

It was noted that geopolitical tensions, security risks along supply routes, and shifting energy policy priorities are increasing uncertainty in the gas market. At the same time, the electrification of the economy, the development of artificial intelligence and data centres, and the need to balance renewable energy generation are reinforcing the strategic importance of natural gas.

The Minister emphasized that restricting investment in the gas sector amid growing demand poses risks to future security of supply. “Investment decisions must be made today to ensure reliable gas supplies tomorrow,” the Minister stated.

Outlining Azerbaijan’s gas strategy, which is based on energy security and long-term partnerships, the Minister described the Southern Gas Corridor as a successful model of cooperation.

It was noted that Azerbaijan is expanding its natural gas production and export potential and increasing its participation in international gas projects to meet growing demand. It was also highlighted that the country’s renewable energy and energy efficiency policies support its gas export strategy.

The Minister stressed the importance of cooperation within the GECF in maintaining stability in the global gas market, promoting investment, and strengthening dialogue between producers and consumers.

It should be noted that Azerbaijan has been represented in the Forum as an observer member since 2015.