Energy security is central to economic, environmental and social stability. Ensuring reliable and affordable supply, increasing energy diversification and resilience and making the most of energy transitions and innovation are the essential elements. Global transition spending in 2024 was nearly double the 2021 figure and use of wind and solar energy is at record levels. Even so, global oil and coal use are also at record levels, and gas will be needed decades beyond 2050. The transition process will be lengthy, disjointed and costly as energy systems are renewed. Some new industries such as hydrogen are emerging slower than hoped. In many countries fiscal constraints place limits on investment and priorities differ. Conflicts and hybrid disruption, poverty, disease, disasters and climate change complicate a constantly changing security picture. Most importantly, average global temperatures are still on track to reach well above 2 degrees centigrade by 2100. This event will discuss how the Caspian Region, UK and EU are working together to adapt planning assumptions accordingly and navigate these realities.

 

08:30 – 09:00     

Registration and Coffee  

 

09:00 – 09:10  

Opening Remarks  

 

09:15 – 09:35 

Keynote Speaker 

 

09:35 – 10:20  

Ambassadorial Panel  
 

Session 1 – European & Caspian Energy Challenges and Developments

Events of the last four years, from Russia’s invasion of Ukraine to today’s political populism, protectionism, trade disputes and tariffs, have stoked political and economic uncertainty in Europe and Caspian countries. The EU and UK have been active in response. The share of EU gas imports from Russia went down from 45% in 2021 to 19% in 2024. The AggregateEU mechanism significantly reduced demand and in May the Commission set out a roadmap to phase out EU imports of Russian gas, oil and nuclear energy. Two months later they announced further Hydrogen, Raw Materials and Gas mechanisms. The UK led from the front at COP29 and the April London Energy Security Conference, and in setting up the Great British Energy Company to develop clean energy projects and promote energy security. Energy drives most economies in Central Asia, the South Caucasus and Türkiye, whether producers, transit countries or both. This panel will look at global and regional overviews - challenges, progress and plans. 

 

10:20 – 11:00   

Panel 1 Moderated Discussion  

 

11:00 – 11:15  

Coffee Break  

 

11:15 – 11:45    

Ambassadorial Panel (Cont.)  

 

 

11:45 – 12:45

Session 2 – Strategic Partnerships and Common Benefits  

Europe and the Caspian Region have many shared interests and much complementary expertise. There are many reasons to strengthen strategic partnerships. The geopolitical backdrop remains unpredictable. Ukraine’s recent drone attacks on Russian critical energy infrastructure led to Central Asian price spikes and reduced access to the Caspian Pipeline Consortium. But the region may also develop a greater role as alternative suppliers. The Trump Route for International Peace and Prosperity can be a major transit game-changer for the South Caucasus and beyond. As well as acting on opportunities, Caspian countries such as Kazakhstan, Uzbekistan and Azerbaijan are doing more longer-term planning and reaping mutual benefits from working with each other and reliable partners. UK and EU governments, energy companies, business and finance sectors are well-placed to help.

Multilateral collaboration on energy and climate change has grown significantly with events such as the Ashgabat Central Asia Climate Conference and the Samarkand EU/Central Asia Summit and Climate Forum where leaders put climate security at the heart of the new Central Asia Strategic Partnership. COP29 raised the profile of Central Asian and South Caucasus countries. Working at C9 including Türkiye would make it even easier for the Caspian region to appreciate collective value and maximise their influence in subsequent COPs. Belém’s legacy will be the extent to which COP30 leads to public and private climate finance scaling up to trillions of dollars and Global Stocktake commitments accelerating renewable energy capacity, efficiency improvements and transitions tackling emissions. 

 

11:45 – 12:45      

Panel 2 Moderated Discussion   

 

12:45 – 12:55  

Closing Remarks  

 

13:00 – 14:00    

 Lunch