By Azernews

By Leman Mammadova

The creation of new generation power capabilities is the main priority of the state policy in Azerbaijan in ensuring the country’s energy security. Today, Azerbaijan fully meets its power demand and increases the export potential of the sector.

Parviz Shahbazov, Energy Minister, represented Azerbaijan at the 8th Asian Ministerial Roundtable held in the capital of the United Arab Emirates, Abu Dhabi. He spoke on the theme "Role of new technologies for competitive and productive energy".

Referring to the predictions on energy demand that will be concentrated in Asia in the next 20 years, Shahbazov pointed out the importance of the event in terms of addressing issues such as reducing carbon emissions while meeting the growing demand for energy.

He noted that the technologies in the global energy system have led to great changes, and shared experience in the introduction of technological innovations in the energy sector of Azerbaijan since the first industrial oil production.

As an example of advanced engineering and technological success, Shahbazov mentioned the Southern Gas Corridor, which is considered as the largest global energy security and infrastructure project in the world and is nearing completion, as well as the development of its main source of supply, the Shah Deniz field.

He also highlighted the reforms on sustainable development of Azerbaijan as an energy country, which will lead to the introduction of ecologically sound technologies, the expansion of the use of renewable energy sources and the liberalization of the energy sector.

“Current energy policy of Azerbaijan is aimed at the efficient use of natural resources and the full use of renewable energy sources. About 92 percent of electricity in the country accounts for traditional energy resource - natural gas,” he said.

Shahbazov added the measures are being taken to achieve high results in natural gas power stations, increase efficiency of stations and improve energy efficiency using the advanced technologies.

“In addition, we strive to increase the share of renewable energy in the electricity generation since carbon emissions are mainly caused by the electricity sector,” he noted.

He also stressed the importance of international cooperation to create a future full of productive and sustainable energy, adding that Azerbaijan is open for such cooperation in the field of renewable energy.

As part of the visit to Abu Dhabi, Shahbazov also met with Fatih Birol, Executive Director of International Energy Agency (IEA).

The sides mulled the issues of current state of global oil market, factors affecting oil prices, as well as supply and demand, diversification of the economy in oil countries and development of renewable energy sources.

Shahbazov pointed to the importance of cooperation with the IEA in the development of the “Long-term Development Strategy of Azerbaijan's Energy Sector”.

Birol, in turn, praised Azerbaijan’s activities in the energy sector in light of new challenges and noted that the IEA will support the draft strategy.

Meanwhile , expansion of cooperation in the field of renewable energy and support issues in this area were discussed during a meeting with Lin Shanqing, Vice President of the China’s National Energy Administration. Shahbazov invited Chinese companies to actively cooperate in the field of renewable energy sources.

The energy cooperation between Azerbaijan and Mongolia were discussed at a meeting with Tserenpil Davaasuren, Energy Minister of Mongolia. Shahbazov noted that the Energy Ministry of Azerbaijan is ready to sign a memorandum of understanding on cooperation in the energy sector with the Mongolian Ministry of Energy.

As part of the visit, Shahbazov also met with Suhail Al Mazroui, Minister of Energy and Industry of the UAE, Jean-Marie Dauger, Co-Chair of the World Energy Council, Dharmendra Pradhan, Indian Minister of Petroleum and Natural Gas, and a delegation led by Tor Fjaeran, President of the World Petroleum Council.