Minister: New EU rules may increase risks for global oil and gas supplies

By 2027, up to 87% of global oil and 43% of international gas supplies may face difficulties in meeting current compliance criteria, increasing the risk of new supply disruptions, Azerbaijan's Energy Minister Parviz Shahbazov said at the 31st Baku Energy Forum.

According to Report, he said the reason lies in new requirements introduced by the European Union under methane emissions regulations, which will enter into force next year.

The minister noted that even with an accelerated energy transition, oil will remain essential for transport, industry, and the chemical sector for a long time. He also stressed that electricity demand-driven by artificial intelligence development, data centers, and digitalization-is growing about three times faster than overall energy demand, increasing the importance of natural gas in the global energy mix.

Parviz Shahbazov also emphasized that electrification and digital technologies are becoming increasingly dependent on critical raw materials, including copper, lithium, and rare earth elements.

"Energy security, critical minerals, and supply chains are becoming key national security priorities," he said.