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22 February 2024 [16:54] - Today.Az

Abbas Ganbay

Deputy Energy Minister Kamal Abbasov said at the 14th International Energy Agency (IEA) - International Energy Forum (IEF) - Organization of the Petroleum Exporting Countries (OPEC) Energy Review Symposium in Riyadh, Saudi Arabia, that Azerbaijan plans to export 4 GW of green energy to Europe at the initial stage, Azernews reports, citing the Ministry.

Abbasov talked about Azerbaijan's achievements in the energy sector in the use of traditional and renewable energy sources. The Deputy Minister emphasized that Azerbaijan, which will host COP29 this year, pays special attention to sustainable and environmentally friendly energy solutions.

As a reminder, the 14th IEA-IEF-OPEC Symposium on Energy Outlook takes place in Riyadh, Saudi Arabia on February 21, 2024.

The joint producer-consumer dialogue was hosted by Joseph McMonigle, Secretary General of the International Energy Forum, H.E. Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries, and Fatih Birol, Executive Director of the International Energy Agency.

The current market volatility and the widening gap between different scenarios make a dialog on energy outlook and market signals more important than ever. The symposium is divided into the following four key sessions.

Energy Security, Technology and Sustainability - Scenarios and Markets: Welcome and opening remarks by the host and co-organizers, with IRENA and GECF as invited organizations.

Key Perspectives and Benchmarking Findings: Presentation of the key findings of the IEA, OPEC and EIA projections and the IEF benchmarking findings.

Trade and investment in energy security, market stability and affordability:

Panelists' views on key trends and discussion of how governments and industry can deal with excessive volatility and restore market stability and affordability.

Energy Market Policies and Incentives to Achieve Common Goals: Panelists' views and a discussion of harmonized policy approaches to leveraging markets and accelerating an orderly and equitable transition.

The annual IEA-IEF-OPEC Symposium on Energy Outlooks is part of a broader joint work program agreed by the three organizations and endorsed by Energy Ministers at the 12th International Energy Forum (Cancun, March 2010) as part of the Cancun Declaration.

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