BAKU, Azerbaijan, May 12. Azerbaijan's Energy Minister Parviz Shahbazov met Meg O'Neill, Chief Executive Officer of bp and discussed energy cooperation, TurkicWorld reports via the Ministry of Energy.
According to the information, during the meeting, satisfaction was expressed with the expansion of cooperation with bp within the framework of a long-term strategic energy partnership and energy security projects focused on renewable energy and decarbonization. It was emphasized that the partnership between Azerbaijan and bp has a history of more than 30 years and that this cooperation has yielded significant results during tough times. The implementation of the "Shafag" project in the liberated territories was highly praised, particularly the creation of a mechanism ensuring the virtual transmission of "green electrons" from Jabrayil. It was emphasized that this mechanism represents an important innovative step, facilitating the transition to a new phase in the region’s decarbonization and energy transmission model.
At the meeting, information was provided on the reforms being implemented by Azerbaijan in the energy sector, and it was noted that Azerbaijan is gradually transforming from a traditional exporter of oil and gas into a producer of renewable energy, and its energy strategy is based on a balanced approach and includes oil, gas, hydro, wind, and solar energy. The discussion also focused on the Caspian Sea’s wind energy potential of 157 GW, as well as projects for interregional energy interconnections. It was noted that Azerbaijan has identified electricity exports as a priority area amid growing global demand for electricity. It was noted that in the future, relations between regions and countries will play a decisive role not only in terms of decarbonization but also in terms of energy security.
Mutual interest in expanding cooperation between Azerbaijan and bp was expressed during the meeting. An exchange of views on the situation in global energy markets also took place.
