31st meeting of CAREC Energy Sector Coordinating Committee was held under the chairmanship of Azerbaijan

On 10 June, the 31st meeting of the Energy Sector Coordinating Committee of the Central Asia Regional Economic Cooperation (CAREC) Program was held in videoconference format under the chairmanship of Azerbaijan. About 80 representatives from 11 member countries and a number of international organizations took part at the event.

At the meeting, within the framework of the Energy Sector Coordinating Committee new innovative methods of cooperation, the main challenges in the implementation of CAREC's energy strategy until 2030, the development of online atlas of energy reforms, the role of women in the energy sector, the creation of a regional financial instrument for financing "green energy" projects were discussed.

Deputy Minister of Energy Samir Valiyev, who chaired the meeting, said in his opening speech that the CAREC program is actively contributing to the strengthening of relations by playing the role of a catalyst for regional cooperation for twenty years. Azerbaijan is also committed to further strengthening regional cooperation and integration in the energy sector.

Informing about the energy sector of Azerbaijan, the chairman said that over the past decade electricity production in the country has increased by 27.6% and consumption by 37.8% due to the creation of new industrial areas. It was noted that as a result of investments and modernization measures in the electric power engineering system, the efficiency and quality of electricity has been significantly improved last decade, the level of losses has been reduced: “Losses in the electricity generation and distribution have decreased from 22.4% to 9.4%, and fuel consumption for the generation of 1 kilowatt-hour electricity have decreased from 319 g to 264 g". At the same time, it was noted that the activities implemented to ensure energy security, which is one of the most important elements of the country's economic security, has strengthened Azerbaijan's position as an exporter of electricity: “As a result of the development of successful relations with the neighbouring countries, in 2020, electricity exports in 2020 increased from 380 million kilowatt-hours to 1 billion 151 million kilowatt-hours compared to 2010. The Deputy Minister also informed about the activities implemented in the field of renewable energy and energy efficiency in the country.

Reports of three working groups and three target groups established within the Energy Sector Coordinating Committee were reviewed at the event. Co-chair of the Working Group on energy efficiency and energy balance diversification, Asaf Rzayev, Head of Energy Efficiency Section of the Ministry made a presentation on the new regional energy mechanism concept and strengthening energy efficiency awareness on the financing of "green energy” projects.

Representatives from various countries and international organizations participating at the event shared their experiences on the ongoing processes in the region and the world in the field of energy cooperation, energy security, reforms, support for women's participation, renewable energy and energy efficiency.

It should be reminded that Central Asia Regional Economic Cooperation Program is chaired by our country in 2021 .