(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 5. Kazakhstan and
Uzbekistan might join the green energy corridor from Azerbaijan to
Europe, with detailed negotiations currently in progress, Deputy
Minister of Energy of Azerbaijan Kamal Abbasov said during the
"Executive Talks: Energy Security 2.0" panel at the 29th Baku
Energy Forum, Trend reports.
He stated that Azerbaijan, already a supplier of oil and gas to
the European Union, might soon become a provider of green energy.
The country awaits a feasibility study on a green energy corridor
from Azerbaijan through Georgia and the Black Sea to Romania,
Hungary, and Bulgaria by the end of 2024.
This balance will ensure market stability and foster qualitative
market development.
Abbasov noted that, as part of energy source diversification,
the Southern Gas Corridor, a critical component of EU energy
security, was completed and became operational in 2020.
"A strategic energy partnership agreement was signed with the EU
in the summer of 2022, and our cooperation extends beyond gas,"
Abbasov emphasized.
Azerbaijan's confirmed gas reserves exceed two trillion cubic
meters, with about one billion tons of oil.
The deputy minister mentioned that oil production in 2024 may
remain at the 2023 level (around 30 million tons).
Gas production is expected to increase, with 24.3 billion cubic
meters (half of production) designated for export. Of this, over 12
billion cubic meters will be exported to the EU.
To note, over 600 delegates are participating in the forum,
representing a diverse range of countries including Australia,
Austria, Belarus, Belgium, Bulgaria, China, the Czech Republic,
Finland, France, Georgia, Hungary, India, Israel, Italy, Japan,
Kazakhstan, Latvia, Monaco, the Netherlands, Norway, UAE, Qatar,
Romania, Russia, Saudi Arabia, Slovenia, Sweden, Switzerland,
Ukraine, the UK, the US, and Uzbekistan. This year's forum boasts a
record number of speakers, totaling 81.
The Forum's agenda will address energy issues of significance
for Azerbaijan and the broader Caspian region, focusing primarily
on considerations and financing related to energy security, energy
transition, and green energy projects.
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