Nuclear energy will become one of the components of Azerbaijan's energy balance, Azerbaijani Energy Minister Parviz Shahbazov said at an energy panel session at the Antalya Diplomacy Forum.
"We are moving to a new model and will ensure energy security not only through hydrocarbons, but also through electricity, including renewable sources," Shahbazov said.
In addition, we have decided to include nuclear energy in our energy balance, as we consider it a clean energy source and an important component of the future energy balance,"
According to him, electricity demand will grow three times faster than total global energy demand.
"Therefore, in our view, a sensible energy transition involves a combination of natural gas, renewable sources and nuclear energy. It is this approach, in our opinion, that will become the basis of future global energy supply," Shahbazov said.
Despite the country's status as an oil and gas producer, Azerbaijan is actively developing renewable energy, the minister said.
According to the minister, natural gas, renewable energy, and nuclear energy will be key components of the 'smart energy transition' in the future.
"All energy sources will be used in the future. However, the key components, in our opinion, will be natural gas, renewable sources and nuclear energy. This is the energy balance we plan to form in Azerbaijan, and we will continue to develop energy ties," Shahbazov said.
The development of renewable energy is an important direction of the country's energy policy, since there is a need for all types of energy, he said.
"In the coming years, we plan to create up to 8 GW of renewable capacity. Of these, about 2 GW will be integrated into our domestic power system by 2027, and the remaining capacity will be developed in subsequent years and exported - just as we did with oil and are now doing with gas," Shahbazov said.
The minister also reported on plans to develop interconnections and strengthen energy connectivity.
