15:44 - 1.06.2026

---

June 1, Fineko/abc.az. Despite investment restrictions, Azerbaijan has entered a new era in the oil & gas sector.

ABC.AZ informs that Azerbaijani Energy Minister Parviz Shahbazov made the relevant statement, when delivering speech at the Baku Energy Week held in Baku.

He added that SOCAR's investments in many countries prove that Azerbaijan is a reliable energy country:

"Azerbaijan exports gas to more than 20 countries. 16 bcm of gas were exported to Europe this year. Europe is considered to be our main market. Electricity production from gas increased by 8 percent. I should also note that even with the acceleration of the energy transition, oil will remain the main export resource. As for electricity, the demand for it is now three times higher than the total demand for energy.

If we talk about digital technologies, there are also interesting changes: their development is increasingly dependent on copper and underground resources. Currently, the national security of countries is also directly related to energy resources.

Energy demand is expected to increase from 2032. Thus, Azerbaijan is forming and will continue to form new partnerships in the region in the field of energy production.

By Elmir Muradov