(MENAFN- Trend News Agency) BAKU, Azerbaijan, Nov.12
By Leman Zeynalova – Trend:
Taking into account the global trends in its energy policy, Azerbaijan has always pursued the same goal in its oil and gas projects - to serve energy security, stability, cooperation and development both at domestic and international levels, Trend quoted Azerbaijan's Energy Minister Parviz Shahbazov as saying.
He made the remarks at GECF 22nd Ministerial Meeting held in a format of videoconference.
'The giant Southern Gas Corridor, including its last section, the Trans Adriatic Pipeline, is the most obvious manifestation of this goal. Transporting gas from a new source to Europe via the Southern Gas Corridor is already reality. This project not only contribution to the decarbonation process but also is going so by diversifying the routes and sources of gas supply to Europe,' said the minister.
'We are currently going through a period of change, as the global oil and gas sector are facing unprecedented turbulence. The ongoing effects of the COVID-19 pandemic reduce the demand for energy resources, as well as accelerate the processes that have been changing the configuration of the global energy sector.
Previously, the main driving force behind the move towards green energy was the Paris Agreement. But now, the low-carbon energy and net zero policies have also come to the fore.
Needless to say, the global gas industry is also affected by such trends, including the competitive environment between the traditional and renewable energy sources.
As a low-carbon energy source, natural gas is playing an important role in the ongoing energy transformations. Moreover, gas supply infrastructure provides ample opportunities for the transportation of hydrogen energy, a source with a great potential for energy transformation.
It seems that natural gas will have a significant share in the world energy market at least in the next 30 years,' he noted.
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