Deputy Energy Minister spoke at the 14th IEA-IEF-OPEC Symposium on Energy Outlooks

Azerbaijan's Deputy Minister of Energy Kamal Abbasov made a speech at the 14th IEA-IEF-OPEC Symposium on Energy Outlooks held in Riyadh, Saudi Arabia, hosted by International Energy Forum.

In the speech, the achievements of Azerbaijan in the energy sector in terms of both traditional and renewable energy sources were noted. It was emphasized that Azerbaijan, which will host COP29 this year, pays exceptional attention to sustainable and environmentally friendly energy solutions. It was noted that Azerbaijan has joined initiatives related to 'green' energy and energy efficiency within COP28, and by 2027, it's planned to increase the share of renewable energy in the country's total installed electricity capacity to 33 percent.

Speaking about the existing strategic partnership between Azerbaijan, Georgia, Hungary and Romania in the field of green energy, the Deputy Minister said that at the initial stage it is planned to export 4 GW of green energy to Europe. He briefed on Azerbaijan's interest in the development of 'green' hydrogen projects, emphasizing the exploration of the potential for producing and exporting hydrogen from renewable energy sources to meet the growing demand for low-carbon energy.

At the symposium discussions were held on 4 sessions on Energy Security, Technology and Sustainability—Scenarios and Markets,Key Outlook and Comparative Analysis Findings, Trade and Investment in Energy Security, Market Stability, and Affordable Access, Policy and Energy Market Incentives to Reach Shared Goals. In the opening session of the event, the speeches of the Minister of Energy of the Kingdom of Saudi Arabia, the Secretary General of IEF, Secretary General of OPEC, Deputy Executive Director of the International Energy Agency, Deputy General Director of the International Renewable Energy Agency, and experts from a number of international organizations and institutions were heard at other sessions.