BAKU, Azerbaijan, June 2. Japanese INPEX company is interested in establishing a new stage of long-term collaboration with Azerbaijan, Executive Officer and Senior Vice President for Europe and Middle East Projects at INPEX, Munehiro Hosono, said at a panel discussion held on the second day of Baku Energy Week, Trend reports.
According to him, INPEX believes in the importance of implementing the energy transition based on energy security, economic realities, and the actual state of the market. The company's "INPEX Vision 2032" strategy is also built on these principles.
Hosono noted that due to its relatively low carbon emissions, natural gas will continue to play an important role in the near future, especially in regions where stable and large-scale energy supplies are needed for economic development.
He said that the company's strategy, in addition to strengthening its existing oil and gas projects, includes three main development directions. These are the expansion of the natural gas and power business, the development of technologies aimed at reducing carbon emissions, including carbon capture and storage (CCS) and hydrogen projects, as well as the application of advanced technologies in the energy and natural resources sector.
Hosono underscored that INPEX has extensive experience as a company operating at all stages of the energy value chain, from production to liquefaction, transportation, and marketing. The Ichthys LNG projects in Australia and the Abadi LNG projects in Indonesia are clear examples of this.
He pointed out that INPEX has been a partner in the Azeri-Chirag-Gunashli (ACG) field block since 2003 and has a stake of approximately 10% in the project. ACG remains an important asset for the company with a long-term production history.
"As the project moves into a more mature development phase, efficient field management and operational excellence become even more important. INPEX has grown through its participation in the ACG project and is now striving to contribute to ensuring sustainable development," he said.
The company's official mentioned that the company views Azerbaijan not only as an existing asset base, but also as a country with great future potential.
"Our experience in gas field development, offshore project implementation, and practical low-carbon solutions such as CCS can create added value in Azerbaijan. We see serious opportunities to expand our cooperation through participation in new projects, further development of existing assets, and application of efficient technological solutions," he emphasized.
Hosono added that INPEX is committed to a real and responsible energy transition and is interested in building a new phase of long-term cooperation with Azerbaijan.
