Azerbaijani Energy Minister, German companies discuss energy partnership
Baku, March 28, AZERTAC
The Berlin Energy Transition Dialogue conference saw a roundtable under the topic of Azerbaijan – oil, gas and beyond: Prospects for a future energy partnership with the participation of more than 20 German energy companies and business circles, Azerbaijan’s Ministry of Energy told AZERTAC.
The roundtable discussions focused on new cooperation opportunities within the Azerbaijan's policy of diversifying energy supply sources and energy transition plans.
It was noted that the recent visit of the President of the Republic of Azerbaijan Ilham Aliyev to Germany and the meeting with leading companies had given a new impetus to the development of cooperation in many areas, including energy. The participants emphasized the strategic role of Azerbaijan's traditional energy sources, including natural gas, in the safe energy supply of partner countries, and the further diversification of Azerbaijan's gas supply geography as a result of the expansion of the Southern Gas Corridor.
The discussions also revolved around green energy production and export projects based on the renewable energy potential of about 200 GW, cooperation opportunities in Karabakh and East Zangezur, within the concept of the green energy zone with net zero emissions. The sides described the implementation of 710 MW renewable energy projects with Masdar, ACWA Power and bp, signing of cooperation documents with ACWA Power, Masdar and Fortescue on renewable energy and green hydrogen production capacities of about 25 GW as indicators of the investment attractiveness of this sector in Azerbaijan.
Energy Minister Parviz Shahbazov said that the project on the transportation of green energy from the Caspian Sea to Romania and Hungary through Georgia and the Black Sea is being implemented and requires extensive cooperation. “This project of the supply and route of a new energy resource is supported by the European Union. At the initial stage, it is planned to transfer 4 GW of energy, thereby Azerbaijan will become an important supplier of green energy for Europe. All these, as well as the potential and plans of Azerbaijan in connection with green energy are opportunities for partnership with companies from Germany,” he added.
The participants also discussed transmission of Azerbaijan-produced electricity, renewable energy and green hydrogen, production of solar panels, decarbonization.