The Azerbaijani ambassador to Switzerland, H.E. Mr. Fuad Isgandarov, addressed a press conference organized by the Geneva Press Club where he discussed the bilateral ties between the Republic of Azerbaijan and the Swiss Confederation, particularly the role of Azerbaijan in the energy industry.
Europe is currently going through a crisis, mainly due to the ongoing Russia-Ukraine war – a number of aspects of the previous trade zones were put at risk, and this includes the energy sector.
Mr. Isgandarov was asked whether he sees Azerbaijan as a potential emerging oil and gas supplier and whether Azerbaijan can cover the shortages in this segment.
The ambassador noted that at the moment, Azerbaijan’s total gas supply exported to Europe amounts to 16 bcm through the Southern Gas Corridor. Some of the gas is delivered to Turkey, but a large portion is exported to Europe.
“Just recently, there was a participation of high-level officials of all the countries – we opened the interconnector between Greece and Bulgaria. This may seem very small, but trust me – it will change the energy security of this poorest [from an energy point of view] part of Europe,” Mr. Isgandarov said.
According to him, this interconnector will not only help Bulgaria achieve its energy demands, but also Balkan countries. In addition to ramping up gas supplies to countries in Europe, Azerbaijan plans to deliver gas to Ukraine by swapping operations through Romania.
“By 2025, we will double our gas supply to Europe – 31 bcm. It is an ambitious but also a realistic plan, and it is possible to do it ourselves, but the most important thing is to engage other countries in this process as well,” the ambassador noted.
Azerbaijan and Switzerland’s strong cooperation greatly reflects in the presence of Azeri energy giants SOCAR Trading and SOCAR Energy. After taking over Esso, SOCAR currently operates around 200 petrol stations in Switzerland.
In 2022, Azerbaijan started to export crude oil to Switzerland and thus far has exported $230 million worth of oil. According to Mr. Isgandarov, 70% of Swiss reserves of gas and oil come from Azerbaijan.
In terms of the new infrastructure and new logistical pipelines, within what the ambassador referred to ‘Greater Caspian region’ it is essential to emphasize that access to the region will greatly depend on the region’s stability.
The ambassador noted that oil and gas are not the only focal point, but alternative energy too, adding that renewables are something Azerbaijan works “very seriously, very closely” with its Swiss partners.