Azerbaijan is set to significantly expand its downstream footprint in Europe, with its total oil refining capacity in the Mediterranean and Aegean seas projected to reach 22 million tons. President Ilham Aliyev announced these figures during his address at the 12th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 4th Ministerial Meeting of the Green Energy Advisory Council held in Baku.
According to Operative Information Center-OMM, the head of state emphasized that this capacity includes the existing 12-million-ton refinery on Turkiye's Aegean coast, complemented by the acquisition of two refineries in Italy with a combined processing capacity of 10 million tons. President Ilham Aliyev noted that these strategic assets represent a major milestone in Azerbaijan's international energy policy, further integrating the country into the European energy value chain.
"Regarding our efforts in the European energy market, I believe it is important for the audience to know that we recently acquired one of the largest power plants in Turkiye with a capacity of 870 megawatts. Last month, an agreement was signed with Serbia for the construction of a 500-megawatt power plant," the President stated. He underlined that Azerbaijan's contribution to regional energy security now extends far beyond its borders and the Southern Gas Corridor infrastructure, encompassing diverse investments in both traditional refining and power generation.
This expansion aligns with Azerbaijan's long-term strategy to transform from a raw material exporter into a global energy player with diversified assets. By securing refining and power generation capacities in key European markets such as Italy and the Balkans, Baku is strengthening its role as a reliable partner in Europe's energy security architecture. The Southern Gas Corridor, which transports Caspian gas to European markets, remains the backbone of this cooperation, while new initiatives in green energy and electricity exports signal a broader shift toward sustainable energy integration between Azerbaijan and the European Union.
