NE Global on Baku Energy Week: Diversification of supplies and development of green energy

The London-based international media organization Nova Era Global (NE Global) has published an article on the Baku Energy Week, which took place on June 1–3.

According to Report, the publication outlines the main topics discussed during the event.

The author emphasizes that Baku Energy Week brought together representatives of governments, international energy companies, financial institutions, and industry experts to discuss energy security and regional cooperation.

Speaking at the opening of the event, President of Azerbaijan Ilham Aliyev stressed the importance of ensuring energy security alongside the development of renewable energy sources.

NE Global also reports that US Assistant Secretary of State for Economic, Energy and Business Affairs Caleb Orr delivered a message from US President Donald Trump, which highlighted Azerbaijan's role in ensuring global energy security.

The publication writes that during the Baku Energy Forum, Azerbaijan's Minister of Energy Parviz Shahbazov called on countries to diversify energy supply routes and sources. In addition, the first meeting of energy ministers of the D-8 Organization for Economic Cooperation member states was held as part of the week.

Elchin Amirbayov, Special Representative of the President of Azerbaijan, emphasized the country's importance for Europe's energy security during the event.

Azerbaijan supplies natural gas to 16 countries, including ten EU member states. By 2035, around 42% of the country's energy system is expected to be powered by renewable energy sources.

The publication also pays special attention to the agreements signed during the event. In particular, SOCAR and Azerbaijan's Ministry of Economy signed agreements and memorandums with foreign partners totaling approximately $7.5 billion.

Among the key documents, NE Global highlights the agreement between Azerbaijan and the United States on the supply of critical minerals and rare earth elements, as well as the agreement between SOCAR, TotalEnergies, XRG and BOTAŞ on supplying 30 billion cubic meters of gas from the Absheron field to the Turkish market over 15 years (starting from 2029).