Davos: President of Azerbaijan Ilham Aliyev has expressed concerns regarding the lack of significant investments from European companies in both fossil fuels and renewable energy sectors in Azerbaijan. This statement was made during the 'Azerbaijan Executive Breakfast,' an event held as part of the World Economic Forum's annual meeting.

According to Azeri-Press News Agency, President Aliyev highlighted that Azerbaijan's primary partners in renewable energy include countries like the UAE, Saudi Arabia, China, and the UK, along with companies from Azerbaijan itself. In the fossil fuels sector, American and British companies have traditionally shown interest. The President mentioned that after the merger of BP and AMOCO, BP is now considered a British company. However, he noted a lack of substantial interest from European companies, with only a French company and one other from Europe expressing any significant engagement.

The President's remarks underscore a broader concern about the involvement of European firms in Azerbaijan's energy initiatives. Despite ongoing efforts to attract foreign investment, the energy sector remains predominantly influenced by non-European entities.