Minister Shabazov told Chinese conference on potential of Azerbaijan

On October 18-19, the Chinese city of Chindao took place the 2nd Energy Ministerial Conference “One Belt, One Way”. At the opening ceremony of the event, which was attended by high-ranking persons from different countries, the Minister of Energy Parviz Shakhbazov spoke in online format.

The Minister noted that Azerbaijan located on an ancient silk pathway plays the role of an “important bridge” between China and Europe through the Baku-Tbilisi-Kars railway line, the Baku International Maritime Trade Port, the International Transport Corridor (MTC) “North-South “And the Trans-Caspian International Transport Route (TMTM or Middle Corridor). It was noted that the new “Zangezur Corridor”, the initiator of which is Azerbaijan, in the future will increase the strategic significance of the project “one belt, one way”.

Shahbazov added that Azerbaijan is an important partner in the development of energy cooperation in this corridor due to the energy lines of global importance, diversified energy resources and their role in ensuring energy security of Europe, as well as favorable investment opportunities.

“Currently related to climate change set the energy sector to face with radical changes, and multilateral cooperation in this process plays a decisive role as never before. China’s initiative, which occupies an effective position in the structure of global energy consumption, which is One of the countries with the greatest investment potential in the field of renewable energy sources and the purpose of zero carbon emissions by 2060, also guarantees the transformation of the project “one belt, one way” into an effective platform for cooperation and “green energy”, “said the minister.

The minister also spoke about the reforms carried out in Azerbaijan in the field of renewable energy sources, energy efficiency, implemented by projects, measures to create a “green energy zone” on the territories liberated from occupation. He noted that the upcoming auctions on renewable energy projects, as well as wind-energy potential in the amount of 157 GW on the Azerbaijani sector of the Caspian Sea, will create new opportunities for investors, including for sustainable energy cooperation with China.

In the 2nd Energy Ministerial Conference, issues of building an industrial chain of green energy were discussed, improving coordination between countries in the field of transition to green energy, developing development programs in this direction, carbon neutrality, creating a market environment for investment in green energy, acceleration Energy transition and application of new technologies and innovation.