BAKU, Azerbaijan, April 23. SOCAR Trading has
proposed the creation of an energy exchange in Baku, Anar Habib,
Senior Trader for Middle Distillates at SOCAR Trading, said at the
2nd Forum on Logistics and Oil Trade in the Caspian and Central
Asian Regions in Baku, Trend reports.
“The Caspian Pipeline Consortium (CPC) pipeline is constantly
exposed to risks related to geopolitical conflicts. And of course,
from time to time, we have to adjust production volumes to ensure
the transportation of the required amount through CPC. One of the
topics that has been discussed for a long time among traders,
sellers, and buyers in the Caspian region is the creation of an
effective hedging mechanism in this part of the world. Perhaps
today I’m presenting a somewhat futuristic idea, but every such
idea has its time for implementation. Therefore, I believe that at
some point, the opportunity will arise to create a commodity
exchange platform in Baku – either a commodity or an energy
exchange,” he said.
According to him, such a project could be implemented in the
form of a joint venture with existing exchanges in London, such as
ICE, with the support of leading global banks like JP Morgan and
Goldman Sachs.
“I’m confident they would be happy to become part of such an
initiative in Baku,” Anar Habib added.
