Aliyev on the role of Azerbaijan in ensuring the energy security of Europe

SOCAR Turkiye, which celebrated its 15th anniversary in Turkiye in 2023, continues to make strategic investments in the energy sector in accordance with the common strategic goals of Azerbaijan and Turkiye.

As a result of the early presidential elections on February 7 in Azerbaijan, Ilham Aliyev, who has been in office for more than 20 years, became the head of state for a seven-year term, and officially "took the helm" again on February 14 (inauguration).

The fuel and energy complex (FEC) remains a key one in the economy of Azerbaijan, but 2023 was held under the slogan of transition to a "green economy", the development of renewable energy sources and was marked in December at COP28 by SOCAR's commitment to reduce greenhouse gas emissions and the development of low-carbon projects.

The year 2023 is coming to an end; it will be remembered for the banking crisis in the United States at the beginning of the year, the global economic downturn in the first half of the year, and geopolitical tensions in various "hot spots" of the planet. Against this background, the end of the year is notable for the fact that gold and silver surpassed the profitability of stock markets around the world by a huge margin, reaching 13% per annum.