Energy Minister met with Vice President of ExxonMobil

A meeting was held between Energy Minister Parviz Shahbazov and Vice President of ExxonMobil John Ardill.

Hailing the long-term relations with the company on the Azeri-Chirag-Guneshli (ACG) and Baku-Tbilisi-Ceyhan (BTC) projects, the parties explored new prospects for collaboration as well as the company's global experience and future plans. New cooperation opportunities, as well as issues related to the global experience and plans of the company were considered.

Vice President John Ardill shared details about projects utilizing modern technologies to reduce methane emissions and operational costs while boosting production. He also highlighted progress in electrifying energy supply within the hydrocarbon sector and advancing hydrogen development.

Minister Parviz Shahbazov outlined Azerbaijan’s energy policy, which encourages a energy mix of oil, gas, and renewable energy sources. He discussed green energy corridors spanning various routes and renewable energy initiatives aimed at increasing electricity generation capacity to 35.5 percent by 2030. The minister stressed that the wind energy potential of Azerbaijan’s Caspian Sea sector is proposed as an alternative energy source to meet Europe’s needs. He noted that special focus is placed on battery systems and storage technologies to advance renewable energy development, while also emphasizing efforts to develop hydropower storage facilities.

The sides also exchanged views on modern energy realities and global energy security challenges.