Azerbaijan is strengthening its role as a key energy supplier not only for Europe but for the wider region, SOCAR President Rovshan Najaf said at the opening of the Eurasian KAZENERGY Forum in Astana.
“Azerbaijan today plays a decisive role not only in ensuring Europe’s energy security but also in the broader region,” Najaf stressed, underlining the country’s growing contribution to stable energy supplies.
Cooperation with Turkey and Qatar
Najaf highlighted joint efforts with Turkey and Qatar in expanding regional energy flows.
“Together with Turkey we were able to start gas deliveries to Syria, a country in dire need of energy,” he said. “With support from Qatari partners, supplies began in August of this year – something that was not on our agenda just six months ago. This demonstrates Azerbaijan’s readiness to play a greater role in regional energy security.”
Long-Term Contracts Needed
While emphasizing Azerbaijan’s abundant resources, Najaf stressed the need for clear commitments from partners:
“We have sufficient resources, but what we need are long-term contracts with buyers and joint financing. Only then can we unlock the full potential of our other projects.”
He also noted SOCAR’s transformation from a traditional oil company into a diversified oil, gas, and energy company.
Efficiency and Growth Balance
Najaf placed strong emphasis on energy efficiency, pointing out that saving gas at home means more can be exported abroad.
“We see many opportunities to save gas by switching to more efficient solutions in households and industry,” he said. “But reduced gas consumption must not come at the expense of economic growth. Preference should be given to alternative energy solutions that sustain production.”
According to him, economic slowdown tied to reduced industrial demand could undermine long-term stability. “When economies slow down, societies demand policy reversals that may lead to poor long-term choices,” Najaf warned.
Investment Priorities and Cost Advantage
Discussing investment, Najaf argued for parallel project implementation to maximize efficiency:
“If we use a drilling rig or vessel for five or six projects at once, we achieve significant savings and build shared infrastructure such as export pipelines. This lowers capital costs across the board.”
He concluded by stressing competitiveness:
“Today, all upstream projects compete globally. Since oil and gas prices are nearly uniform, comparative advantage comes from lowering costs. That is why parallel execution of projects helps optimize expenditures and ensure profitability.”
