The Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov spoke at the 6th Youth Forum of the World Petroleum Council

The Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov attended at the 6^th Youth Forum, organized by the World Petroleum Council and with the support of the Ministry of Energy of Russia. The Minister making a speech at the forum on “Energy Transformation, Energy Map of the Future” spoke about the trends observed in the world and the measures taken in our country, the targets set on renewable energy and energy efficiency as key driving forces in energy transformation. The Minister of Energy speaking about the factors that make the transformation of energy necessary noted that issues on energy, political and environmental safety increases the role of renewable energy compared to traditional energy resources, and energy efficiency brings new content to the traditional relationship between energy demand and economic growth. Alternative energy solutions for oil countries, as well as non-energy countries, are actual, he said. The minister said that in addition to fluctuations in the oil price, emissions of greenhouse gases into the atmosphere increases instead of decreasing. In recent years, the role of natural gas in the transition to low-carbon energy has increased, but the issue on energy security, diversification of sources and routes comes to the fore.  In the present-day world energy system, renewable energy acts as a universal source for everyone to ensure their energy and environmental safety: “Unlike hydrocarbons, there is a potential everywhere. Using this potential, each country can become a country of energy and can significantly increase its energy independence. At the same time, reliable protection against environmental pollution can be ensured.”

It was noted that at present, the share of renewable energy sources including hydro energy is 10.9% in comparison with the 84.7% share of traditional energy resources in the world energy consumption. However, in recent years, renewable energy development is on the rise, and increase in the competitiveness of renewable energy sources by rapidly reducing costs, as well as technologies support this process. “Global energy transformation will play an important role in the reshaping of the geopolitical map of the 21st century. This map will differ greatly from the geopolitical map that has existed over a century and is based on traditional energy”, the Minister said.

The Minister Parviz Shahbazov touched upon the role of Azerbaijan in the development of the energy map of the world, and also highlighted the contributions made by the “Southern Gas Corridor”  project to the decarbonization of the continent and works done in the field of the renewable energy and energy efficiency as an important part of the reforms in the country's energy sector.

Within the forum the Minister of Energy Parviz Shahbazov also met with Russia`s Minister of Energy Alexander Novak. At the meeting, the sides discussed issues on energy cooperation between the two countries in the field of power engineering, oil and gas. Also, consultations were held within the framework of the "OPEC plus" cooperation format.