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Baku Energy Forum - AZERBAIJAN READY TO CONTINUE MAKING EFFORTS TO ENSURE REGIONAL AND GLOBAL ENERGY SECURITY - MINISTER

AZERBAIJAN READY TO CONTINUE MAKING EFFORTS TO ENSURE REGIONAL AND GLOBAL ENERGY SECURITY - MINISTER

21.02.2022

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Azerbaijan is ready to continue making efforts to ensure regional and global energy security, Azerbaijani Energy Minister Parviz Shahbazov said during the meeting with Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel, Trend reports citing the Azerbaijani Energy Ministry.

The sides discussed the current trends in the global gas market, the current state, and prospects for cooperation between Azerbaijan and GECF.

Shahbazov stressed that Azerbaijan has implemented one of the biggest projects of the 21st century - the Southern Gas Corridor.

“Azerbaijani gas is supplied to the European market through the Southern Gas Corridor and has gained the trust of consumers,” the minister said.

While speaking about the prospects for expanding the Southern Gas Corridor, Shahbazov spoke about the required steps and Azerbaijan’s gas reserves.

The Azerbaijani minister said that so far, about 160 billion cubic meters of gas have been produced at the Shah Deniz field, which is the main source of resources of the Southern Gas Corridor, and the reserves of this field exceed one trillion cubic meters.

“Taking into account the proven and probable reserves, there are great opportunities for the development of Azerbaijan as a gas country,” Shahbazov added. “Azerbaijan is ready to continue making efforts to ensure regional and global energy security, as well as cooperation and dialogue with the forum.”

In turn, Hamel said that natural gas will play a key role in the energy transition process in the coming decades.

“The problems with energy security and environment are resolved through natural gas,” the GECF secretary general added.

Hamel also stressed Azerbaijan’s role in stable gas supply.

The GECF secretary general also highly appreciated the contribution of President Ilham Aliyev to the creation of the OPEC+ format.

The Azerbaijani energy minister also met with the CEO of Nebras Power company Khalid Mohammed Jolo.

The issues of cooperation on the projects for the construction of gas turbine units with an installed capacity of up to 550 MW, as well as wind power plants with an installed capacity of up to 100 MW in Lachin and Kalbajar districts were discussed at the meeting.

Moreover, the views on the renewable energy projects in the Azerbaijani lands liberated from Armenia’s occupation and the plans for the implementation of wind energy potential in the Azerbaijani sector of the Caspian Sea were exchanged.


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