President Ilham Aliyev stated at the 31st Baku Energy Forum that Azerbaijan's existing gas reserves will meet the demands of the country and its partners for at least the next 100 years.
The President emphasized that Azerbaijan has achieved high diversification in the processing industry. SOCAR's oil refining capacity exceeds 30 million tons. With the acquisition of "Italiana Petroli," the refining capacity in the Mediterranean basin has increased to 23 million tons.
Aliyev noted that countries should be evaluated not by their oil reserves, but by how they manage revenues and invest in renewable energy. Azerbaijan demonstrates a responsible approach in this area.
He added that favorable conditions have been created for investment in renewables, similar to opportunities provided to oil companies in the early 1990s. The same spirit of cooperation now applies to the renewable energy sector.
