Azeri President Ilham Aliyev told the delegates at the World Economic Forum at the resort city in Davos, Switzerland, that his country is in a key position in the global energy sector with vast oil and gas reserves.
"Currently Azerbaijan exports its gas to its neighbors, although some of them have much more gas than we do," he said. "We'll continue diversifying our gas export routes."
Baku is seen as a potential supplier for the Nabucco gas pipeline for Europe, though the country also aims to establish an energy relationship with Moscow, a Nabucco rival.
Europe aims to bring Central Asian and Middle Eastern gas through Turkey with its Nabucco pipeline. Russia is building its Nord Stream pipeline through the Baltic Sea while looking at the South Stream gas network through the Turkish waters of the Black Sea as a diversification option.
Werner Auli, the top executive at Austrian energy company OMV and chairman of the Nabucco steering committee, said Nabucco might not be built if the demand is not prevalent.