Azerbaijan to accelerate reforms in energy sector

Oil&Gas Materials 24 October 2019 17:55 (UTC +04:00)

BAKU, Azerbaijan, Oct. 24

By Anastasia Savchenko - Trend:

A modern model of energy market should be used, Chairman of the Management Board of the Energy Regulatory Agency under Azerbaijan’s Energy Ministry Samir Akhundov said at the International Energy Charter Forum in Baku, Trend reports Oct. 24.

“On May 9 this year, Azerbaijani President Ilham Aliyev signed an order on accelerating reforms in the energy sector,” Akhundov said.

The chairman also noted that over the past five years, significant efforts have been made to increase the number of facilities generating renewable energy.

“There is serious political commitment to developing renewable energy,” Akhundov added.

The topic of the International Energy Charter Forum is “Enabling Energy Transformation through Technology and Policy Innovations”.

The four-session forum is dedicated to the development of renewable energy and technology, the use and regulation of renewable energy, the promotion of energy efficiency, the sharing of best practices and regional security experience.

The forum is attended by top ranking officials from 13 countries, including Azerbaijan, Turkey, Georgia, Austria, China, Greece, Albania, Croatia, Spain, Bangladesh, Bosnia and Herzegovina, Burundi, and Yemen.

The event is also attended by representatives from 42 international organizations, local and foreign energy companies, public bodies, as well as diplomatic corps in Azerbaijan, and about 200 experts and journalists.