Parviz Shahbazov: Caspian region becomes energy hub

The Caspian region has geostrategically become an energy hub, Azerbaijani Energy Minister Parviz Shahbazov said during the Baku Energy Week.

According to him, Azerbaijan has strengthened its role in ensuring the energy security of Europe and the region as a whole. Shahbazov recalled that Baku initiated the Southern Gas Corridor project, which today plays an important role in export of Azerbaijani gas to the EU.

"Today we export our gas to six countries and the number of these countries will grow. Besides, partnership and cooperation with third countries is very important to achieve the set goals," Parviz Shahbazov said.

Azerbaijan, according to the minister, is working to increase sources of natural gas. He said that Azerbaijan has about 1.7 trillion cubic meters of natural gas in reserve, which they plan to export to other countries in the future.

"Moreover, by 2028, due to the expanded use of renewable energy sources, we'll save about one billion cubic meters of gas, which will be exported," Shahbazov said.