BAKU, Azerbaijan, June 4. Today, the energy sector is experiencing a critical period, Minister of Energy & Natural Resources of Türkiye Alparslan Bayraktar said, Trend reports.
He made the statement at the opening ceremony of the 29th International Caspian Oil and Gas Exhibition and the 12th Caspian International Power and Green Energy Exhibition, known as Caspian Power, during the Baku Energy Week at Baku Expo Center.
“The globe is changing due to technological advancement, geopolitical shifts, and climatic change. Due to ongoing challenges and hazards, ensuring inexpensive and reliable electricity is becoming harder. Current factors include the pandemic, climate variability, supply chain interruptions, rising energy and commodity prices, capital costs, inflation, geopolitical tensions, and regional conflicts that affect the energy business,” he said.
The minister emphasized the necessity for the global economy to decarbonize within less than three decades.
"Achieving this objective necessitates fundamental policy reforms and substantial investment, leading many represented countries to make significant advancements in bolstering their energy security. Our National Energy Supply Plan underscores our dedication to realizing our Net Zero aspirations and key objectives. We prioritize six key areas to harness our renewable energy potential," concluded Bayraktar.
Stay up-to-date with more news at Trend News Agency's WhatsApp channel