Baku: 'Today, relying on a single source, route or market is no longer a sustainable strategy. Rising geopolitical tensions, volatility in global energy markets, disruptions in supply chains, accelerated electrification, and the green transition are significantly reshaping the global energy landscape,' stated Parviz Shahbazov, Azerbaijan's Minister of Energy, during his address at the 1st Meeting of the Ministers of Energy of D-8 Member States.

According to Azerbaijan State News Agency, the Minister emphasized that the current global energy dynamics and geopolitical challenges necessitate a strategic shift towards diversification in energy policies. He noted that the volatility in energy markets, alongside geopolitical tensions and the rapid pace of the energy transition, underscores the importance of a diversified energy strategy.

The Minister highlighted Azerbaijan's balanced approach between maintaining energy security and pursuing energy transition. The country is actively developing regional energy corridors that include oil, gas, electricity, and green energy projects. Shahbazov also pointed out Azerbaijan's evolving role as a strategic intercontinental energy and transit hub.

Shahbazov elaborated on Azerbaijan's significant contribution to regional and European energy security through strategic gas corridors like the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, and the Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines. He noted that Azerbaijan is expanding its role in energy security by establishing green energy corridors connecting the South Caucasus, Central Asia, Trkiye, and Europe.