Cooperation on building coastal infrastructure and natural gas was discussed with Asian Development Bank

A meeting was held between Energy Minister Parviz Shahbazov and Vice President of the Asian Development Bank (ADB) for South, Central, and West Asia Yingming Yang.

The sides expressed satisfaction with the long-term and effective cooperation with ADB in the energy sector and exchanged views on the main priorities of the energy agenda. Interest was shown in cooperation opportunities within the bank's policy of diversifying the energy balance, increasing energy efficiency and establishing regional energy relations.

It was noted that the first stage of development of renewable energy sources in Azerbaijan is coming to an end, and within the framework of this stage, by 2027, it is planned to integrate green energy capacities in the amount of 2 GW into the energy system. In addition, the projects related to the use of wind energy in the Caspian Sea and the steps taken to develop various green energy corridors in Europe, Türkiye and Central Asia were brought to the attention. In this regard, ADB's financial support for the feasibility study of the Central Asia-Azerbaijan Green Energy Corridor project was highly appreciated.

During the meeting, it was noted that some of the offshore energy to be produced is planned to be integrated into the country's energy system, and the other part will be directed to export. In this regard, it was emphasized that cooperation with ADB on the creation of the necessary infrastructure for the transmission of offshore wind energy to the coast is of particular importance.

It was noted that the proposals for cooperation on the construction of coastal infrastructures and the expansion of natural gas supplies to Europe were welcomed by the ADB. Discussions were also held on cooperation in the field of energy interconnectors and heat supply.