On June 2, President of the Republic of Azerbaijan Ilham Aliyev attended the official opening ceremony of the 30th Anniversary International Caspian Oil & Gas Exhibition, the 13th Caspian International Power and Green Energy Exhibition (“Caspian Power”), and the 30th Baku Energy Forum, all held within the framework of Baku Energy Week at the Baku Expo Center.
In his address at the ceremony, President Aliyev emphasized the historic role of the energy sector in shaping Azerbaijan’s independence. He noted that the “Contract of the Century,” signed in 1994, marked a turning point in the region’s geo-economic transformation. According to the President, energy policy has been the main driving force behind both the country’s economic growth and its international standing.
President Aliyev announced that Azerbaijan now exports natural gas to 12 countries, with this geographic reach continuing to expand. In 2024, gas exports reached 25 billion cubic meters. By 2030, based on existing contracts, this figure is expected to rise to 33 billion cubic meters. At the same time, in partnership with international investors, Azerbaijan plans to increase its installed capacity of renewable energy to 6.5 GW—representing more than 35% of the country’s energy mix.
The President stressed that despite Azerbaijan’s abundant hydrocarbon reserves, the country is making strong investments in green energy, demonstrating a responsible and balanced approach. “Maintaining a balance between traditional and renewable energy sources is not just a matter of energy security, but a pragmatic policy free of populism,” Aliyev said, recalling the achievements of COP29, including the launch of the global Loss and Damage Fund and the operationalization of the international carbon market.
This year’s Baku Energy Week brings together 267 companies from 39 countries, 35% of which are new participants. The exhibition features leading international and domestic companies, including bp, SOCAR, TPAO, TotalEnergies, MOL Group, Tatneft, Sinopec, ACWA Power, Masdar, Schlumberger, and others.
Following the ceremony, the President toured national pavilions and key company stands, including that of SOCAR—the State Oil Company of Azerbaijan—which plays a strategic role in hydrocarbon exports and the advancement of sustainable technologies.
Founded with the initiative of National Leader Heydar Aliyev, Baku Energy Week has evolved over three decades into a prominent international platform for dialogue on global energy trends, sustainability, and international energy cooperation.
