Minister of Energy delivered a speech at the Second Belt and Road Energy Ministerial Conference

The Second Belt and Road Energy Ministerial Conference was held in the form of a hybrid conference in Qingdao, People’s Republic of China in October 18-19, 2021. Energy Minister Parviz Shahbazov made a speech online at the opening ceremony of the event attended by senior officials of different countries.

The Minister noted that Azerbaijan, located on the ancient Silk Road, plays the role of an “important bridge” between China and Europe through the Baku-Tbilisi-Kars railway, Baku International Sea Trade Port, International North–South Transport Corridor and Trans-Caspian transit corridor. It was noted that the new Zangezur Corridor initiated by Azerbaijan will further enhance the strategic importance of the “Belt and Road” project in the future. The minister noted that Azerbaijan is an important partner in the development of energy cooperation in this corridor with its globally important energy lines, diversified energy resources and role in ensuring energy security of Europe and favorable investment opportunities. "The current climate change-related challenges have put the energy sector face to face with drastic changes, and multilateral cooperation plays a crucial role in this process than ever before. Its effective position in the structure of global energy consumption, being one of the countries with the largest installed capacity in the renewable energy sector in the world, and its target for zero carbon emissions by 2060 ensures that “Belt and Road” will become an effective cooperation platform on “green energy” with China's initiative” the minister said.

The minister also spoke about the development of renewable energy sources, the reforms carried out in our country in the field of energy efficiency, the projects to be implemented, the measures taken to create a ”green energy zone”in the liberated territories. He noted that the upcoming auctions for renewable energy projects, as well as a wind power potential of 157 GW in the Azerbaijani sector of the Caspian Sea will create new opportunities for investors, including for sustainable energy cooperation with China.

At Second Belt and Road Energy Ministerial Conference, the issues of building an industrial green energy chain, increasing coordination between countries in the field of transition to green energy, elaborating development programs in this direction, carbon neutrality, creating a market environment for investment in green energy, accelerating the energy transition, and application of new technologies and innovations.