Dear Exhibition and Forum participants,

Dear Ladies and Gentlemen, 

I welcome you on the occasion of the opening of the Baku Energy Week, which unites several energy events, and wish you all good health and success in your future endeavours on behalf of your countries.

As the most prestigious event in the oil and gas industry and energy sector of the Caspian region, the Baku Energy Week brings together the 27th International Caspian Oil & Gas Exhibition, the 10th Anniversary Caspian International Power and Renewable Energy Exhibition, as well as the Baku Energy Forum, which is the successor to the Caspian Oil and Gas Conference.

The Baku Energy Week is being reorganised after a two-year break caused by the Covid pandemic, which the Azerbaijani Government has been successfully fighting. Both live meetings and face-to-face communication with industry leaders of the region add to the importance of this year’s Exhibition and Forum. This year's Baku Energy Week brings together key players of the global energy market and international companies for new cooperation in creating more sustainable and secure energy centres of gravity.

It is very significant that issues such as decarbonisation, increasing green energy forms, as well as affordable and safe energy supplies, which have become a global challenge, are at the top of the agenda of this year’s Energy Week dialogue. At the same time, the Baku Energy Forum has continued the tradition of the Caspian Oil and Gas Conference, which has gained the status of a major event in the energy sector and expanded its agenda with new energy segments.

The challenges facing the world and the expected structural changes in the global energy balance have brought up the duties such as increasing sustainable and clean energy capacity for the region and identifying new energy routes. Taking this into account, Azerbaijan, one of the important players in ensuring global and regional energy security, implements sustainable projects, especially for the development of renewable energy, supports close integration with neighbouring countries' energy systems, maintaining peace, stability, and security in the region.

Given the growing importance of natural gas in the energy transformation, the significance of the Southern Gas Corridor project is growing even further. This project, which is of strategic importance for Azerbaijan, plays a major role in ensuring Europe's energy security, and there are great opportunities for further expansion of this energy corridor.

Azerbaijan has set long-term goals with respect to energy security, especially green energy policy. In the field of energy, open, transparent, business-focused, and results-oriented cooperation and mutual support are our permanent principles. By 2030, we have identified becoming a "green growth" country and achieving a clean environment as one of our national priorities for socio-economic development. Such a policy will provide a perfect foundation for a successful energy transformation in the region.

The existing stability, economic development, modern infrastructure, favourable business environment, and the great energy potential in our country have created broad prospects for the production and export of renewable energy. Azerbaijan, together with companies with extensive experience in the energy sector, has launched large-scale projects aimed at creating new renewable energy forces. Significant progress has already been made in creating a new generation power of 855 megawatts. This further improves and strengthens the position of Azerbaijan as a reliable supplier of new energy resources in international markets.

In this process, the diversification of energy resources, decarbonisation, as well as increasing the use of natural gas as a source of low-carbon energy carry particular importance. The great energy potential of our liberated historical territories promises broad prospects for the implementation of successful "green energy" projects and energy security in the region. According to the reports, the production of solar and wind energy in Karabakh and East Zangazur can reach about 9-10 thousand megawatts. For these purposes, together with leading international companies, conceptual projects have already been prepared for the "green energy" zone in Karabakh and East Zangazur; the creation of a unique "green energy zone" concept consisting of modern renewable energy sources continues. Along with vast natural gas reserves, our renewable energy potential paves the way for important opportunities to become a "green growth" country.

Distinguished by its special position in the development of the world oil and energy industry, Azerbaijan has also been implementing large-scale investment projects in various countries. Today, the position of our country, which is recognised as a reliable partner in the international arena, is becoming even stronger. We are fulfilling our obligations and creating favourable conditions for foreign investors.

We should further expand our cooperation to ensure energy security, diversification, and the transition to green energy in the region. In order to successfully meet the challenges of energy security in the future, the application of new technologies and digital solutions in this area should prevail.

Dear Exhibition and Forum participants, Azerbaijan has long hosted this event of global importance. I believe that thanks to its many years of experience, your exhibition and forum will open new horizons for our broad economic relations and contribute to fruitful cooperation in an atmosphere of mutual understanding with comprehensive reports, discussions and exchange of views on current issues.

I once again wish you success in your activities at the Baku Energy Week!