Beglyarbekov: SOCAR to continue ensuring Europe's energy security

Azerbaijan will further support Europe’s energy security by continuing stable gas supplies, Deputy Vice President of SOCAR for Investments and Marketing Vitaly Beglyarbekov said speaking at ADA University as part of the Regional Energy Security Symposium, Report informs.

Beglyarbekov expressed concern that gas prices remain high, and this creates difficulties for consumers.

“Gas prices are growing and will remain so within 2-3 months, which creates some difficulties for potential consumers. We will continue to work to ensure the energy security of Europe together with our partners, supplying gas to the Greek, Bulgarian and Italian markets,” he said.

“We are now important exporters of gas in the region, and we are actively cooperating with our partners, the US and the UK. They help us at different stages of project implementation,” he said.

Answering the questions of the event’s participants, he noted that Azerbaijan has opportunities to increase gas production and export.

“Implementation of further projects requires investment and support from other parties. But any initiatives proposed to us from the outside must be commercial in nature. We are taking big steps and see results, but it is essential to clearly think over further actions to reach a new level in ensuring energy security,” Beglyarbekov said.

He also touched upon the importance of energy cooperation in the new realities after the Second Karabakh War, noting the possibility of cooperation and normalization of relations with Armenia in the post-conflict period: “If you remember, in March-April 2020, we supplied Russian gas through our territory to Armenia, to a country with which we have unfriendly relations. But we did it.”