Energy Ministry mulls strategy for long-term development of energy sector

7 July 2020 17:30 (UTC+04:00)

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By Ayya Lmahamad

Azerbaijan’s Energy Ministry has discussed the development of "Long-term strategy of development of energy sector of Azerbaijan Republic", the ministry’s press service reported on July 6.

During the meeting, attended by Energy Minister Parviz Shahbazov, the initial draft of the strategy was reviewed, the structure and separate sections were analyzed.

Moreover, the necessary points, which should be reflected in the project, were noted, comparisons with existing strategies of other countries in this area were made.

Furthermore, it was noted that the long-term energy sector development strategy should also take into account the impact of the COVID-19 pandemic on the global energy sector, as well as its compliance with strategic documents related to the country’s economic development.

It should be noted that the strategy provides for long-term development in the energy sector based on the principle of supply security, economic efficiency and sustainable development.

Preparation of this document was entrusted to the Ministry of Energy by Presidential Decree № 1209 of May 29, 2019 “On accelerating reforms in the energy sector of the Republic of Azerbaijan”.

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