Relying on single energy source no longer sustainable, minister says

Today, relying on a single source, route or market is no longer a sustainable strategy.

Report informs that Azerbaijan's Energy Minister Parviz Shahbazov said this at the first meeting of energy ministers of D-8 member states.

According to him, rising geopolitical tensions, volatility in energy markets, disruptions in supply chains, accelerated electrification and the green transition are significantly reshaping the global energy landscape.

"These developments show that relying on a single source, route or market is no longer a sustainable strategy. In this new geopolitical context, diversifying energy policies, expanding into new markets and forming new partnerships are essential to strengthening the strategic resilience of states," he said.

Shahbazov noted that Azerbaijan consistently pursues a balanced approach between energy security and the energy transition as it develops regional energy corridors, from oil and gas to electricity and green energy.

"At the same time, the country is becoming a strategic intercontinental energy and transit hub. Through strategic gas corridors such as the Baku-Tbilisi-Ceyhan oil pipeline, and the Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines, Azerbaijan has long played an important role in regional and European energy security. It is now further expanding this role through green energy corridors between the South Caucasus, Central Asia, Türkiye and Europe," he said.