Energy Ministers gather in China for the 3rd "Belt and Road Energy Ministerial Conference"

The 3rd "The Third Belt and Road Energy Ministerial Conference" is currently taking place in Qingdao, Shandong Province, China, with Azerbaijan's Minister of Energy Parviz Shahbazov in attendance, Azernews reports.

Organized by the National Energy Administration of China under the theme "Bringing Innovation for the Joint Future of Energy," the conference gathers leaders from state institutions and representatives from energy companies across approximately 30 countries.

During the opening ceremony, key figures, including Zhang Cienhua, head of the National Energy Administration, and Zhou Naixian, governor of Shandong Province, highlighted the significance of collaboration in energy security, market development, and technological innovation in green energy. Minister Shahbazov noted that the " Belt and Road " initiative plays a crucial role in shaping the modern geo-economic landscape of Eurasia. He emphasized Azerbaijan's strategic position as a transit center between Europe and Asia, particularly through its development of the Middle Corridor and contributions to green energy connections.

A significant highlight of the conference was the adoption of a Joint Declaration by Azerbaijan and China to establish a strategic partnership, which aims to enhance energy cooperation along the modern Silk Road. The Minister detailed how this partnership creates opportunities for collaboration in oil, gas, and green energy sectors. He mentioned ongoing projects, including the participation of Chinese companies in renewable energy initiatives in Azerbaijan, such as solar power plants and a tender for a 100-megawatt solar project.

Shahbazov also discussed key energy corridors, including "Caspian-Black Sea-Europe" and "Azerbaijan-Turkey-Europe," which are expected to facilitate the transfer of approximately 10 gigawatts of energy between Asia and Europe. He underscored the potential for Chinese investment in offshore green energy projects, energy storage systems, and renewable energy technologies, aligning with China's carbon neutrality goals.

The conference further witnessed the adoption of the "Belt and Road Green Energy Cooperation Action Plan," the establishment of a secretariat office for the energy platform, and the welcoming of new countries into the initiative. The conference will continue with divisional meetings aimed at furthering discussions on these pivotal energy collaborations.