It is my great pleasure to welcome you to the Baku Energy Week, traditionally held annually in Azerbaijan, which encompasses the 30th Anniversary International Caspian Oil and Gas Exhibition, the 13th Caspian International Power and Green Energy Exhibition, and the 30th Anniversary Baku Energy Forum.
The International Caspian Oil and Gas Exhibition, first held in 1994 at the initiative of National Leader Heydar Aliyev, the architect of Azerbaijan`s new energy strategy, has over the years transformed into a multifaceted platform. It has made vital contributions to energy security, sustainable development, and effective cooperation in the region.
Our national energy strategy, successfully continued by the President of the Republic of Azerbaijan, Mr. Ilham Aliyev, in accordance with the contemporary global challenges, today manifests itself as an exemplary model for the transition to an innovative and green economy in Azerbaijan, while remaining rooted in the country`s traditional energy sectors.
Strategic energy projects implemented through Azerbaijan`s initiative and direct involvement have become an integral component of both regional and European energy security. By further expanding its export geography, Azerbaijan currently supplies natural gas to 12 countries, including 10 European states.
Having defined its transformation into a `Clean Environment and Green Growth Country` by 2030 as one of its five national socio-economic development priorities, Azerbaijan is also taking essential steps in the renewable energy sector. Last year, our country successfully hosted COP29, marking significant achievements in ensuring global solidarity in environmental protection, energy transition, decarbonization, and combating climate change.
As a national brand and global energy company, SOCAR successfully continues its purposeful transformation from an oil and gas enterprise into an international energy company, in line with its strategic objectives. Last year, within the framework of Baku Energy Week, SOCAR and UAE`s Masdar signed Shareholder Agreements for three renewable energy projects, and during COP29, SOCAR, Masdar and ACWA Power signed a Memorandum of Understanding to cooperate on the production of 3.5 gigawatts of wind power in the Azerbaijani sector of the Caspian Sea. These joint projects make a valuable contribution to the development of Azerbaijan`s renewable energy potential, regional cooperation, and the enhancement of energy security.
Demonstrating its strong commitment to reducing global methane emissions and its adherence to announced decarbonization targets, SOCAR joined the OGMP2.0 partnership in 2024. Furthermore, SOCAR obtained a preliminary BBB rating for 2024 from MSCI, a leading international rating agency in the field of Environmental, Social, and Governance (ESG). This achievement reflects SOCAR`s successes in reducing carbon emissions and waste, improving public relations, supporting biodiversity, ensuring health and safety, and strengthening governance and transparency.
Dear event participants,
Baku Energy Week continues to serve as a distinguished platform for wide-ranging discussion of critical energy issues and for the exchange of expertise on the latest technologies and digital solutions, offering participants valuable opportunities for cooperation. I am confident that this year`s events, by bringing together the world`s leading energy companies, will further reinforce the role of Baku Energy Week in ensuring global energy security, addressing current challenges, and supporting the sustainable development of the energy sector.
With best wishes,
Rovshan Najaf
President of SOCAR