Today in Baku, the 12th meeting of the ministers within the framework of the Southern Gas Corridor Advisory Council and the 4th meeting of the ministers within the framework of the Green Energy Advisory Council are being held.
The meeting attended by President Ilham Aliyev includes participation from 27 countries, including Azerbaijan and the European Union, 11 international financial institutions and organizations, as well as 49 energy companies. Ministers, deputy ministers, and other high-level representatives participate in the event.
Ilham Shaban, head of the Oil Research Center, told Medianews.az that the outbreak of military conflict in the Gulf countries, Iran's airstrike on Qatar's gas processing facilities—Qatar being one of the world's major liquefied gas exporters—and daily disruptions in transporting 300 million cubic meters of gas through the Strait of Hormuz have already raised the price of 1000 cubic meters of blue fuel to up to 600 dollars in European and Far Eastern markets:
“In such circumstances, Europe sees that transporting gas by tankers is not a guarantor of sustainable energy security. And the importance of pipeline transportation, in my opinion, will be even more clearly in the spotlight at this Baku meeting.
My expectation is that the European Union may include the expansion of the Southern Gas Corridor in its list of priority projects.
According to the results of 2025, Azerbaijan produced approximately 38.9 billion cubic meters of commercial gas and converted 25.2 billion cubic meters of this in foreign markets. Our sales volumes in European markets have been stable for 2 years – around 12.8 billion cubic meters.”