Parviz Shahbazov: Support Needed for Long-Term Gas Contracts to Europe
Azerbaijan Advocates Long-Term Gas Contracts for European Energy Security
At the Istanbul Natural Resources Summit, Azerbaijani Energy Minister Parviz Shahbazov emphasized the necessity for long-term contract mechanisms to ensure robust gas supplies to Europe. During a session focused on the evolving dynamics of supply security, Shahbazov articulated concerns about investment risks in gas production when delivery and market sales are unguaranteed.
"The commitment to long-term contracts is vital," Shahbazov stated. "Without such guarantees, heavy investments in gas production may pose significant risks."
He highlighted Azerbaijan’s sustained strategic importance as a key supplier of oil and natural gas, particularly through collaborative projects with Türkiye. The minister announced plans to supply approximately 10 billion cubic meters of gas to Türkiye this year, which he described as both a consumer and a critical transit country for delivering energy resources to Europe.
Shahbazov expressed concerns regarding prevailing anti-hydrocarbon policies, which he believes obstruct the effective execution of gas supply plans. These policies lead to diminished investments in the gas sector and inadequate infrastructure for energy delivery.
He urged a pragmatic approach to energy strategy, stating, "We must focus on real energy strategies rather than political and ideological perspectives. With increasing global energy demands, we cannot afford to waste energy. Therefore, developing diverse energy sources is a top priority."
On the topic of green energy initiatives, Shahbazov mentioned Azerbaijan’s collaborations with Türkiye, Georgia, Romania, Bulgaria, and Central Asian nations. He asserted that these regional projects will not only foster energy connectivity but also enhance climate security.
"These are the energy projects of the future," he concluded.
The session also featured participation from ministers from Iraq, Egypt, Libya, Bulgaria, Romania, and Moldova, moderated by Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar.
