15:51 - 1.06.2026

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June 1, Fineko/abc.az. By 2027, up to 87% of global oil and 43% of international gas supplies may have difficulty meeting current requirements, which increases the risk of new supply shocks.

ABC.AZ informs that Energy Minister Parviz Shahbazov made the above-said statement at the 31st Baku Energy Forum.

According to the minister, speech is about the requirements to be applied within the EU methane emission regulations, which will enter into force in 2027.

He noted that even with acceleration of the energy transition, oil will remain indispensable for a long time in sectors such as transport, industry and chemicals:

"At the same time, demand for electricity, stimulated by artificial intelligence data centers and digitalization processes, is growing nearly 3-fold faster than the total demand for energy, which further enhances the importance of natural gas in the energy mix. This reality shows that it is impossible to achieve energy security in the world without oil and gas. On the contrary, the global trend towards electrification requires a higher level of energy security."