Minister of Energy Parviz Shahbazov spoke about Azerbaijan’s gas policy in Malabo

Minister of Energy Parviz Shahbazov attended 5^th Gas Exporting Countries Forum (GECF) Summit and Ministerial Meeting in the capital of Equatorial Guinea, Malabo. The Energy minister conveyed the greetings and congratulations by the President of the Republic of Azerbaijan for the launch of the 5th Summit to the participants. The minister speaking at both events informed about the observed trends in the global gas market and the gas export projects being implemented by Azerbaijan. The Minister noted that in recent years, the growing demand for natural gas, as a source of low-carbon energy in the world, not only ensures the implementation of new projects and the development of the gas industry, but also intensifies the diversification of sources and routes. The Minister of Energy also touched upon the expected future impact on natural gas of the energy of biogas, biomethane and hydrogen caused by challanges for zero emissions. The Forum of Gas Exporting Countries (GECF) evaluated these development trends as a platform that helps gas-producing and exporting countries to take them into account in their energy policy courses and find joint solutions. 

Minister Parviz Shahbazov also spoke about projects ensuring the transformation of Azerbaijan into a gas-exporting country due to gas imports and serving energy security. He emphasized the regional and global importance of the ongoing “Southern Gas Corridor” project: “TANAP, which plays an important role in the establishment of the “Southern Gas Corridor” project, is fully ready to transport Azerbaijani natural gas to Europe. Natural gas from a new source, the Caspian, will be delivered to Europe for the first time through the “Southern Gas Corridor” in the second half of 2020. Redevelopment of a world energy map with another global project by a country, which has no access to open seas, is the result of a consistent and long-term energy policy led by Ilham Aliyev, the President of the Republic of Azerbaijan. This policy is based on ensuring the interests of all parties and creating a mutually beneficial global cooperation environment.”

Within the summit, the Minister of Energy met with the Secretary General of the Gas Exporting Countries Forum (GECF) Yury Sentyurin, the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo, as well as the Energy Minister of the Russian Federation Alexander Novak and Minister of Petroleum & Mineral Resources of Egypt Tarek El Molla. The current status in the global oil and gas market and issues of bilateral cooperation between Azerbaijan and these organizations were discussed during the meetings.