On June 4, during the opening of the 29th International Caspian Oil & Gas Exhibition and the 12th Caspian International Power and Green Energy Exhibition - Caspian Power as part of Baku Energy Week at the Baku Expo Center, President of Azerbaijan Ilham Aliyev made significant remarks about Azerbaijan's energy sector.

"Shah Deniz has put an end to the gas shortage in Azerbaijan," President Aliyev declared. He emphasized that Azerbaijan is increasing its gas exports, predicting it will likely exceed 24 billion cubic meters. "We have eight countries which are recipients of Azerbaijani gas. Azerbaijan has proven to be a reliable partner in supplying gas to many countries," he stated.

Addressing renewable energy, Aliyev said, "We will see that our target to have two gigawatts of renewables by the end of 2027 is absolutely realistic. This is only the beginning." He highlighted the hydropower potential in the liberated areas of Karabakh and East Zangazur, noting that since the territory was liberated in November 2020, hydropower stations with a total capacity of 270 megawatts have been inaugurated. He projected that this figure would reach 500 megawatts within three to five years. "One gigawatt of renewables will save us roughly half a billion cubic meters of natural gas, which the market needs and will need," Aliyev added.

Aliyev also pointed out that the European Commission names Azerbaijan as a Pan-European gas supplier, noting that six out of the eight countries receiving Azerbaijani natural gas are European countries. "The geography of our supply definitely will grow. We are now in the active phase of negotiations with several more countries, which need Azerbaijani gas to provide energy security," he noted.

Furthermore, Aliyev mentioned Azerbaijan's efforts to support Small Island Developing States. "We are actively working with the Small Island Developing States. We are planning to establish a special fund to support them," he said. He stressed that climate change poses a significant problem for Azerbaijan and an existential threat for these states, indicating Azerbaijan's responsibility and efforts to build bridges.

Christina Lobillo Borrero, General Director for Energy of the European Commission's Energy Platform Working Group and International Relations Department, highlighted Azerbaijan as a reliable partner for Europe regarding gas supply. "Currently, the gas transported from Azerbaijan to Europe is 20 billion cubic meters yearly. Work is being continued toward increasing it," she said. Borrero emphasized expanding domestic infrastructure to acquire new gas resources, aiming to eliminate dependence on Russian gas. She also underscored close cooperation with Azerbaijan on the issue of energy transition.

Ilham Aliyev Meets with Turkish Energy Minister and Minister of Industry and Advanced Technology of the United Arab Emirates

On June 4, Ilham Aliyev received Alparslan Bayraktar, Turkey's Minister of Energy and Natural Resources.

During the meeting, President Aliyev recalled the importance of the agreement on the Shah Deniz field signed on June 4, 1996, and noted the relevance of the contracts signed on this day between the State Oil Company of the Republic of Azerbaijan (SOCAR) and Turkey's BOTAŞ company in the fields of natural gas supply, transportation, and transit.

Alparslan Bayraktar highlighted the extensive projects and expanding bilateral cooperation between Azerbaijan and Turkey under the leadership of their Presidents. He particularly mentioned the energy sector, stressing the significance of cooperation between the Turkish Petroleum Corporation (TPAO), BOTAŞ, and SOCAR for Turkey's domestic market and industrial development. The Minister praised SOCAR as a major investor in Turkey and lauded its activities. He also emphasized Azerbaijan's role in Europe's energy security.

Bayraktar commended Azerbaijan's development under President Aliyev's leadership, particularly in the energy sector, including renewable energy, and expressed confidence that cooperation in this area would continue to expand. He reiterated the importance of last year's signing of the Memorandum of Understanding in Nakhchivan on cooperation in the transmission of electricity generated from renewable energy sources in Azerbaijan and Turkey and the foundation laying of the Igdir-Nakhchivan gas pipeline. He expressed hope that this project would be completed in 2024.

President Aliyev expressed gratitude for the letter from the Turkish President regarding the event. He also expressed satisfaction that the pipeline would soon be operational in Nakhchivan, emphasizing its critical role in electricity production and natural gas supply for Nakhchivan. He highlighted the broad scope of energy cooperation between Azerbaijan and Turkey, including natural gas, oil, and renewable energy, and stressed the significant ongoing projects in the energy sector between the two countries.

On the same day, President Ilham Aliyev received Sultan Ahmed Al Jaber, the Minister of Industry and Advanced Technology of the United Arab Emirates. President Aliyev highlighted the successful development of bilateral relations between the two countries across various fields and mentioned the importance of the official visit to Azerbaijan by UAE President Mohamed bin Zayed Al Nahyan earlier this year. He described laying the foundation for the Neftchala, Bilasuvar solar power plants, and Absheron-Garadagh wind power plant as a manifestation of friendship and brotherhood. The President noted the symbolic significance of the groundbreaking ceremony on June 4, coinciding with the signing of the Shahdeniz field agreement in 1996. He expressed confidence that laying the foundation for the solar and wind power stations would mark the beginning of a new era in the development of the energy sector and the country at large. He praised the contributions of President Sheikh Mohamed bin Zayed Al Nahyan and the UAE government to the expansion of cooperation, particularly in renewable energy.