The Caspian region has significant energy resources, numerous export routes, logistics development opportunities and the potential for renewable energy sources, Vice President of the State Oil Company of Azerbaijan (SOCAR) Babak Huseynov said on Tuesday.

He made the remarks while speaking at the Society of Petroleum Engineers’ (SPE) Caspian Technical Conference and Exhibition in Baku, News.Az reports.

He emphasized that this year the conference gains special significance as Azerbaijan celebrates the 100th anniversary of the birth of the national leader Heydar Aliyev, whose foresight has left a mark on the oil and gas sector.

“His foresight and strategic thinking played a crucial role in directing the energy landscape towards prosperity. In the spirit of his vision, the key role of the oil and gas industry in shaping the economic destiny of nations is recognized. This conference serves as a platform for industry leaders, professionals, and experts to come together and find joint solutions to the energy dilemma,” he said.

“We stand at a crossroads requiring to balance the imperatives of energy, security, environmental sustainability, and economic viability. The Caspian region, with its enormous resources, has a unique opportunity to lead the process of discharge,” Huseynov added.

News.Az