Speaking at the 11th BRICS Energy Ministers’ Meeting in Gurugram, India, Paknejad said oil and natural gas will continue to play a critical role in the global energy system, even as countries pursue decarbonization and climate goals. He emphasized that a successful energy transition must be balanced, inclusive and supported by adequate investment in both conventional energy resources and emerging low-carbon technologies.
“Oil remains the backbone of the global transportation and industrial sectors, while natural gas plays a central role in the energy transition,” Paknejad said, adding that achieving a just and orderly transition requires substantial global investment in oil and gas development alongside carbon-reduction technologies.
The Iranian minister described BRICS as a unique platform for advancing international energy cooperation, noting that member countries collectively account for a significant share of global energy production, consumption, reserves and technological capabilities. He said the bloc could expand collaboration across a broad range of sectors, including oil and gas, renewable energy, power grids, hydrogen, energy efficiency, artificial intelligence and digitalization of the energy industry.
Highlighting Iran’s energy achievements despite years of sanctions, Paknejad said the country has continued to expand its energy infrastructure and production capacity. According to the minister, Iran’s natural gas production surpassed 280 billion cubic meters in 2025, representing about 7% of global gas output. He added that crude oil production reached 4.2 million barrels per day, while petroleum product production capacity increased to 2.4 million barrels per day.
Paknejad also pointed to Iran’s extensive energy transportation network, which includes thousands of kilometers of oil, gas and petroleum product pipelines. He said the country’s electricity generation capacity has exceeded 100,000 megawatts and that development of both fossil-fuel and renewable power generation remains a priority under national development plans.
The minister said Iran is prepared to play an active role in BRICS energy cooperation by sharing its vast hydrocarbon resources, technical expertise and strategic geographic position.
“The Islamic Republic of Iran stands ready to share its energy resources, world-class technical expertise and strategic location in shaping a fair and secure global energy order within the BRICS framework,” he said.
Addressing challenges facing global energy markets, Paknejad warned that escalating trade restrictions and sanctions imposed on major energy-producing countries could undermine market stability and disrupt energy supply chains. He stressed the need to safeguard both energy supply security for consumers and demand security for producers.
To address those challenges, he proposed establishing a “BRICS Energy Security Partnership” under the BRICS Energy Cooperation Roadmap 2025–2030. The initiative, he said, could facilitate regular exchanges of market information, strengthen cooperation in protecting critical energy infrastructure, improve emergency response mechanisms, promote investment in strategic energy projects and support the continuous flow of energy supplies among member countries.
Paknejad concluded by emphasizing that providing secure, affordable, reliable, sustainable and inclusive energy for all requires collective action and international cooperation.
He reaffirmed Iran’s commitment to active engagement with fellow BRICS members and thanked the government and people of India, particularly Indian Power and Housing and Urban Affairs Minister for hosting the meeting and organizing the event.