Press release

6 Jun 2022 Baku, AZ

EY Supports the Baku Energy Forum

EY became a Consulting Partner to the Baku Energy Forum.

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EY Azerbaijan

Multidisciplinary professional services organization

EY Azerbaijan, Baku, 2 June 2022 - EY is pleased to become a Consulting Partner to the Baku Energy Forum, previously known as the Caspian Oil & Gas Conference. The Forum is considered as one of the most prestigious annual platforms for the industry executives, policy-makers, as well as think-tanks and academics specializing in the oil and gas sector. Traditionally, it takes place in the first week of June.

Ilgar Veliyev, EY's Country Managing Partner in Azerbaijan said: "This is now clear beyond any doubt that the energy and resources industry has been undergoing fundamental change for quite some time. In the midst of these uncertainties and evident anxiety, we at EY believe that the disruption sweeping this industry can bring more opportunities than challenges - that is, for companies who wish to get ahead of change. We offer unique expertise and insights to help companies reshape their business for the future by focusing on the structure, technologies and capabilities needed to meet commercial objectives today and create long-term value tomorrow". 

Decarbonization, digitization, cost pressures and geopolitical uncertainty are just some of the forces transforming the energy and resources industry. Oil and gas companies face a common challenge: how to marry short-term commercial pressures with the need to reshape their business to enable it to withstand current and future challenges.

EY's Marek Mikitiuk, CESA Oil & Gas Consulting Leader, delivered a presentation on the outlook of Energy Transition. He, in particular, discussed the impact of emerging clean technologies on the economy and the role of the energy sector in the transition of transportation and infrastructure. Marek Mikitiuk said: “Oil & Gas companies will still be part of the energy mix for the foreseeable future, but the road of transition will be bumpy with multiple headwinds and risks. The ability to adapt will be essential for the sector to continue growth and thrive in an adverse environment”.

EY recently surveyed more than 34,000 consumers across 17 countries to illuminate how energy providers can navigate the energy transition. This research confirmed that, as the energy transition accelerates, what the customers want – and the world needs – from energy providers is changing fast. Marek Mikitiuk echoes this conclusion: "This changing energy world demands a transformed customer experience. That's what people clearly express. The new customer experience should meet changing needs, give customers more control and enable them to make sustainable choices. Therefore, energy providers need to deliver all this in a way that balances growth, cost and sustainability".

EY understands that organizations find the transformation of customer experience quite challenging. EY experts therefore help energy providers harness innovative technologies and agile ways of working to empower their workforce, engage an increasingly diverse customer base and drive long-term value. EY Azerbaijan's commitment is to continue fulfilling the purpose of Building a better working world. The insights and expertise EY provides help build trust and confidence in the capital markets and in economies the world over.