BAKU, Azerbaijan, June 4. Latest world occasions
have underscored the essential significance of steady and dependable
power provides, whereas international locations concurrently attempt to
transition to cleaner, greener power sources, stated Kamal Abbasov,
Deputy Minister of Vitality of Azerbaijan, Development studies.
Talking throughout the “Fuel Markets – A New Construction for
Producers, Transporters, and Customers” session on the thirtieth Baku
Vitality Discussion board, Abbasov famous that this twin objective requires a wiser
and extra versatile power system that may guarantee safety whereas
supporting a low-carbon future.
Abbasov emphasised that pure fuel performs an important function not solely
as an power supply but additionally throughout many sectors of every day life,
highlighting its key contribution to fertilizer manufacturing, which
helps world meals safety amid rising populations. He additionally
identified fuel’s function in methanol manufacturing for industries such
as chemical substances, plastics, and clear fuels, stressing that its worth
extends far past electrical energy and heating.
“To completely understand the potential of pure fuel, long-term and
steady agreements are important. Upstream tasks like exploration
and manufacturing require important, pricey, and time-consuming
investments that demand belief and stability amongst producers,
transporters, and customers alike,” Abbasov stated.
Azerbaijan’s expertise with tasks such because the Shah Deniz
subject and the Southern Fuel Hall exemplifies the success of
long-term partnerships, spanning over 25 years, which enabled
strategic planning and huge investments. These tasks now
present dependable fuel provides to European international locations.
The deputy minister additionally highlighted the significance of correct
useful resource administration and strategic imaginative and prescient, noting Azerbaijan’s
ongoing efforts to extend fuel manufacturing whereas absolutely honoring its
contractual obligations.
“Pure fuel stays a core a part of the power combine, however
Azerbaijan is equally dedicated to making ready for a cleaner future.
The nation is investing in fuel infrastructure alongside advancing
renewable power growth, significantly leveraging the excessive
photo voltaic and wind potential within the Caspian Sea and Karabakh areas to
diversify power sources and cut back emissions,” the deputy minister
said.
He recalled that Azerbaijan’s internet hosting of the COP29 local weather
summit demonstrates its dedication to world local weather targets and
enjoying a constructive function within the power transition.
“As fuel markets evolve, Azerbaijan strikes ahead with a transparent
and balanced method,” Abbasov stated. By growing manufacturing,
increasing export infrastructure, and assembly the power wants of
associate international locations, Azerbaijan continues to be a dependable power
provider.
It moreover helps the growth of renewable power and
the transition to scrub power sources. This balanced path displays
the nation’s long-term imaginative and prescient targeted on power safety, sturdy
cooperation, and clear power targets.
We imagine that by means of collaboration and good planning, it’s
doable to construct an power future that works for everybody,”
Abbasov concluded.
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