Minister of Energy spoke about the role of green energy corridors in the development of the Belt and Road Initiative in China

Minister of Energy Parviz Shahbazov made a speech at the 3rd Conference of Energy Ministers of the Belt and Road in Qingdao, China. In his speech, Energy Minister Parviz Shahbazov highlighted the Belt and Road project as a wise initiative shaping the modern geopolitical landscape of Eurasia. He noted Azerbaijan's significant role in this project as a transit center between Europe and Asia through transportation and energy corridors. The minister spoke about the country's strategic course aimed at strengthening the Middle Corridor, which provides the shortest route from China to Europe, and contributing to the Belt and Road initiative through green energy connections.

It was mentioned that the leaders of Azerbaijan and China elevated their relations to a completely new level by adopting a Joint Declaration on the establishment of strategic partnership: "The declaration, which is the pinnacle of Azerbaijan-China relations, opens up vast opportunities for the development of energy partnership along the modern Silk Road belt. The countries, which consider each other as priority, reliable, and strategic partners, have outlined a roadmap for deepening cooperation in oil and gas production, refining, and green energy. The Azerbaijan-China partnership, combining significant potential and experience in green energy, is of great importance in responding to the challenges of the Belt and Road initiative, sustainable development, and global climate and energy issues, the Minister emphasized.

He also highlighted the participation of Chinese companies in the supply of green technologies for stations and the creation of solar energy capacities during the first development phase of green energy in Azerbaijan, which is set to last until 2027. In this context, he mentioned the Agreement Memorandum with the Energy China company regarding the implementation of renewable energy projects with a capacity of 2 GW, including the construction of two solar power plants with a capacity of 160 MW, the participation of Chinese companies in the tender for the Gobustan hydroelectric power station project with a capacity of 100 MW, as well as collaboration plans with China Datang, TBEA, and PowerChina.

This collaboration is particularly significant in the aspect of green energy corridors implemented by Azerbaijan as part of the next phase of renewable energy by 2030. The minister stated that the Caspian-Black Sea-Europe, Azerbaijan-Türkiye-Europe, and the Central Asia-Azerbaijan-Europe green energy corridors, which connect the energy systems of Azerbaijan, Kazakhstan, and Uzbekistan and are linked to the Europe-Caspian energy corridor, have the potential to facilitate the transmission of approximately 10 GW of energy between Asia and Europe: "Cooperation on these corridors, which support the creation of more integrated regional electricity markets, can contribute to China's carbon neutrality goals and diversify energy supplies by importing green energy from Central Asia and Azerbaijan. There are significant opportunities for China's broad participation in these corridors through investments and development-oriented cooperation on offshore green energy projects, expanding electricity networks, constructing electricity transmission lines, energy storage systems, and renewable energy technologies," the Minister added.

The Minister also touched upon the energy initiatives of the COP29 presidency, calling on China and the "Belt and Road" countries to actively participate in the Global Climate Summit and join Azerbaijan's initiatives.

At the end of the conference, the Belt and Road Green Energy Cooperation Action Plan was adopted. Additionally, an office for the platform's secretariat was established.