SOCAR chief: Azerbaijan seeks larger role in energy security of Europe and beyond

Azerbaijan plays a key role in ensuring energy security not only for Europe but for the wider region, and is ready to expand its participation in this process, said Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR).

He made the remarks at the 16th Kazenergy Eurasian Forum “New Energy Order: Focus on Medium Powers,” Caliber.Az reports per local media.

“Currently, Azerbaijan plays an important role not only in Europe’s energy security but also in the broader region. In August, we began gas deliveries to Syria. Had we been asked six months ago, this was not in our plans. We are ready to take a larger role in regional energy security. We have sufficient resources for this,” Najaf said.

He noted that, at the request of European partners, SOCAR increased gas exports to Europe by nearly 60% since 2022, without any European funding. The existing export infrastructure was financed entirely by Azerbaijan and its partners, who assumed all associated risks. Before 2022, there were no plans to expand this infrastructure. However, Najaf emphasised that further expansion of pipelines is needed to ensure sustainability and larger volumes of supply.

“SOCAR is ready to continue increasing gas deliveries to Europe, provided European partners cooperate. This requires, first, long-term contracts and, second, joint investments in infrastructure expansion. We also need support from EU financial institutions and funding from European countries,” he said.

Najaf added that, according to SOCAR’s estimates, oil and gas will remain in use for decades: “We believe gas will be used at least until 2070 and beyond. This is why we continue investing in gas projects.”

He also noted that SOCAR has “many other plans that we want to implement and invest in.”

By Khagan Isayev