Baku (Turkey News) There is growing emphasis on the need to establish a local commodity and raw materials trading market in Azerbaijan, which could play an important role in energy trade and risk management in the region.
During the Second Caspian and Central Asia Oil Trade and Logistics Forum held in Baku, Anar Habib, Senior Trader at SOCAR Trading, said that such a market could make energy price discovery in the region more transparent and help establish a common price benchmark for the Caspian Basin.
He said that the Caspian Pipeline Consortium is currently operating in an environment of geopolitical risks, which affects the stability of oil supply and occasionally requires adjustments in production.
According to him, there has long been a need for an effective risk hedging system between traders, buyers, and sellers in the region, and although the idea may appear futuristic, its practical implementation may emerge over time.
Experts believe that a possible energy exchange in Baku could provide modern financial instruments for oil and gas trade, including futures and options contracts. This would further strengthen links between producers, traders, and consumers and could make the regional energy market more organized and stable.
