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Azerbaijan ready to supply Caspian green energy to Europe - energy minister [PHOTOS]

29 March 2023 13:00 (UTC+04:00)
Azerbaijan ready to supply Caspian green energy to Europe - energy minister [PHOTOS]
Qabil Ashirov
Qabil Ashirov
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Azerbaijani Energy Minister Parviz Shahbazov delivered a speech at the 9th Berlin Energy Transition Dialogue conference, Azernews reports, citing the Energy Ministry.

In the speech, the development of renewable energy, defined by the President of Azerbaijan as one of the priorities of the country's socio-economic development strategy, was brought to attention in the aspect of contributing to the energy security of more partner countries. Recalling the signing of the Memorandum of Understanding on strategic partnership in the energy sector between Azerbaijan and the European Union last year, the energy minister said that Azerbaijan has been supplying the world oil market with crude oil and oil products for many years.

"We have been supplying natural gas to the European energy market for more than two years. Now we are working with the European Commission to double the volume of natural gas supplies because our partners from Europe have asked us to increase these volumes against the background of the war between Russia and Ukraine and the general energy crisis," the minister added.

Parviz Shahbazov spoke about the reforms implemented in recent years for the development of renewable energy sources, the preparation of new legislative acts, and the creation of an investment environment. He stated that Azerbaijan's policy on green energy is aimed at attracting foreign companies to the development of this field. He noted that 710 MW of wind and solar energy projects have already been implemented with foreign investors, and cooperation documents have been signed for production capacities of about 25 GW. Based on this potential and the Agreement on the development and transmission of green energy signed between Azerbaijan, Georgia, Romania, and Hungary last December as well as Azerbaijan’s intention to supply green energy to Europe, the minister said that Azerbaijan has 157 GW wind potential in the Caspian Sea.

“We can give it to the European Union in the form of electricity, green hydrogen, ammonia through high voltage lines. The four countries are working on it together with the European Commission and private companies," he noted.

He also touched on the integration of renewable energy into Azerbaijan's energy system and the creation of a balance between renewable and traditional energy sources. He said that cooperation with the American Tetra Tech and Turkish Efra companies in this direction is planned and the integration of up to 2,000 MW of renewable energy into the energy system is planned.

Minister Parviz Shahbazov pointed out that green energy is the energy of the future, but we must think about the rational implementation of the energy transition.

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