Azerbaijan mulls developing cooperation with World Petroleum Council

A meeting has been held between Energy Minister Parviz Shahbazov and President of the World Petroleum Council (WPC Energy) Pedro Miras, Report informs referring to the Azerbaijani Energy Ministry.

The event focused on the current issues on the global energy agenda, regional energy projects and issues related to the development of Azerbaijan's cooperation with the organization.

Minister Parviz Shahbazov stated that although Azerbaijan is a traditional oil and gas-producing and exporting country, it has also made progress in the direction of the energy transition. In recent years, large-scale reforms have been carried out in the energy sector, numerous regulatory and legal acts have been adopted in this area, and the development of renewable energy sources has begun.

It was noted that for 2030, Azerbaijan aimed to increase the share of renewable energy sources in the installed capacity to 30%. At present, it is planned to increase this indicator by 2027 to 33.7%. This shows that the country has made significant progress in the direction of the energy transition, and it is planned to continue this path in the future.

The meeting also focused on energy projects of regional and international importance. Energy links covering Central Asia, Türkiye and Europe were evaluated within the single concept. It was noted that these projects bring countries closer in terms of connecting energy systems and contribute to regional energy security. It was noted that these projects are of great importance in terms of the development of energy and digital infrastructure, as well as data centers.

President of the World Oil Council Pedro Miras emphasized Azerbaijan's role as a key energy corridor between Asia and Europe, noting that the country is an exemplary model that promotes dialogue between different energy points of view.

During the conversation, an exchange of views took place regarding participation in the WPC Energy Congress, to be held in Riyadh (Saudi Arabia) in 2026, and the cooperation prospects with the organization.