Azerbaijan is ready and open to discuss the issue of increasing energy supplies to Europe, Economy Minister Mikayil Jabbarov said, speaking at the World Economic Forum in Davos on 23 May. 

“Azerbaijan is asked to increase energy supplies. We are pleased to increase the supply to the market. However, over the past few years, investments in the sector have been insufficient due to the changed policy of financial institutions regarding fossil fuels, including natural gas,” Jabbarov said. Azerbaijan is a major supplier of gas to Georgia and Turkey, from where blue fuel is transported to Greece, Bulgaria, Italy, and Albania. "We are currently working with our partners to increase gas supplies to Europe," the minister recalled.

According to the economy minister, Azerbaijan is pursuing a policy of joint development of its energy resources. “In addition to our national oil company, we also have major international partners such as the European Bank for Reconstruction and Development,” Jabbarov said. "Azerbaijan started the process of assimilation of investments in pipeline infrastructure, exploration, development, and production in 2012. The issues on our agenda today are the level of additional commercial risks that local and foreign companies in Azerbaijan could now take on, how to manage these risks, how to use the support of international institutions and the need for a smooth transition to green energy.”

Baku strives to be a stable partner in terms of the supply of goods and services, participation in political dialogue, the overall priority of the macroeconomic and a solid financial base, the Azerbaijani minister added.