The 29th Baku Energy Forum has kicked off at the Baku Convention Center in the capital of Azerbaijan today, on June 5, as part of the Baku Energy Week.
Addressing the event participants, Azerbaijan's Minister of Energy Parviz Shahbazov spoke about the significant efforts Azerbaijan is making in developing renewable energy nationwide.
He recalled the launch of Masdar and SOCAR projects in Baku on June 4, totaling 1GW capacity for $1 billion, aiming to achieve 33% of Azerbaijan's total energy balance from green energy by 2027.
"We're in talks with ACWA Power to establish energy storage systems, and we're committed internationally to exporting green hydrogen. We're exploring the option of delivering green energy through Azerbaijan's Nakhchivan Autonomous Republic to Türkiye and then to the EU. Additionally, there's potential for a green energy corridor from Central Asian nations," Parviz Shahbazov said.
He also emphasized the importance of implementing green energy projects in Azerbaijan's liberated territories.
"These regions will exclusively rely on renewable energy sources. Energy from RES in the liberated territories will not only meet their needs entirely but also be exportable to neighboring regions of Azerbaijan," Parviz Shahbazov said.
At the same time, the minister pointed out that, in 2024, Azerbaijan's gas exports will total 24.3 billion cubic meters, with more than half destined for the EU compared to 11.8 billion cubic meters in 2023.
Shahbazov expressed confidence in the successful execution of COP29 and emphasized deep collaboration with all UN countries on the green agenda.
ICA Events Group Board Advisor Stephan Murtagh said that Baku Energy Week has sparked significant interest among industry representatives.
“Today's forum confirms the sector's numerous successful enterprises, which is encouraging. It offers great networking, knowledge sharing, and fascinating seminars. We've seen exciting announcements from industry leaders during the event. Leading energy industry and area speakers will provide insights at today's forum. I eagerly anticipate the wealth of ideas our moderators will bring forth,” Stephan Murtagh said.
Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó highlighted that infrastructure development, including delivery routes, is essential for gas source diversification.
“There's considerable pressure in Europe for diversification, but definitions vary. Our concept involves increasing the number of sources, not replacing them. True diversification demands more sources, which is why we've urged the European Union to boost pipeline capacity in Southeast Europe, enabling increased gas purchases from Azerbaijan, Qatar, and Türkiye,” Péter Szijjártó said.
On June 5 and 6, the 29th Baku Energy Forum is being held at the eco-concept-designed Baku Convention Center as part of Baku Energy Week. Over 600 delegates are participating in the forum, this year's program boasts a record number of speakers, totaling 81.
The two-day event will cover topics including “International Cooperation for Energy Security and Sustainability," “Energy Security 2.0," “Exploration and Production in the Caspian Region," “Unlocking Sustainable Energy: Green Energy Potential in the Caspian Region," “New Technologies and Digitalization," “Gas Dialogue: The Role of Gas Supply During the Energy Crisis," “Oil Flows: Cross-Logistics and Infrastructure Development in Azerbaijan," and “The Role of Human Capital in a Successful Energy Transition”. Additionally, in anticipation of the upcoming COP29 conference, the Baku Energy Forum program will feature a special session on “Empowering and accelerating green transition: strategies for COP29 and for Green World.”
