Azerbaijan is on cusp of energy revolution

Azerbaijan is on cusp of energy revolution

BAKU, Azerbaijan, Dec. 26


Azerbaijan is on the cusp of an energy revolution that might have seemed impossible a couple of years ago, Trend reports referring to the article by Dr. Esmira Jafarova, Deputy Chairman of the Center of Analysis of International Relations (AIR Center) in Baku.

“Azerbaijan is now marching towards big horizons with the aim of enriching its energy potential. Soon, Azerbaijan’s name will be associated not only with oil and gas, but also with its ambitious renewable energy projects,” reads the article published on The Georgetown Journal of International Affairs (GJIA).

The author believes that putting a premium on the development of renewable energy will allow Azerbaijan to export more oil and gas while using renewable energy sources for domestic purposes.

“Ever since Azerbaijan, a small oil-rich country in the South Caucasus, signed the “Contract of the Century” in 1994 to propel the implementation of large-scaled energy projects in its immediate, as well as distant, neighborhood, oil and gas have become the dominant commodities that shape the country’s energy strategy. Together with some large multinational corporations that are its international partners in the West, Azerbaijan has established a successful model of cooperation through the construction of the Baku-Tbilisi-Ceyhan and the Baku-Tbilisi-Erzurum oil and gas pipelines—both of which transport hydrocarbons extracted from the Caspian Sea to international markets. These two projects set the milestone of Azerbaijan’s energy outreach. The revenues acquired from Azerbaijan’s hydrocarbon resources have been channeled to the socio-economic development of the country; as a result, every aspect of Azerbaijan’s statehood has flourished over the last twenty-five years,” wrote the author.

With growing importance attached to natural gas as a clean energy source, Azerbaijan has also made its name as a gas-exporting country, reads the article.

“The Southern Gas Corridor—a multimillion mega-project initiated in 2013 that aims to transport Azerbaijani gas to Europe in 2020 has four components: 1) the “Shah Deniz II” field, 2) the “Southern Caucasus Pipeline Expansion (SCPx), 3) the Trans Anatolian Pipeline (TANAP), and 4) the Trans Adriatic Pipeline (TAP),” wrote the author.

The article says that the Southern Gas Corridor aims to contribute to the diversification of energy sources and routes.

The Southern Gas Corridor has become yet another milestone in enhancing Azerbaijan’s regional and global standing as an energy exporter, according to the author.

“Such achievements have allowed Azerbaijan to look beyond the use of traditional energy sources and embark on the development of its renewable energy sector. Increasing focus on renewable energy was also conditioned by the dawning of a new era in the global energy sector, particularly in view of the fluctuation of oil prices since 2014, Azerbaijan has started to reassess its priorities in terms of achieving balance in the country’s overall energy consumption. Even though oil and gas have served as predominant energy sources for domestic use, renewable energy has started to appear as an attractive alternative in a potential upcoming post-hydrocarbon era. Renewable energy as an environment-friendly, clean energy source is fast becoming a competitor in the energy sector,” reads the article.

The author notes that since the advent of the new leadership of Azerbaijan’s Energy Ministry in 2017, the country has embarked on a steady course toward ensuring the diversification of domestic energy use and increasing the share of renewables in the overall energy consumption balance.

“Azerbaijan’s renewable energy potential is estimated to be at around 27,000 megawatts, the largest share of which belongs to solar energy (23,000 megawatts). The Strategic Road Map on the Development of Utilities in Azerbaijan has envisaged the creation of 420 megawatts of renewable power generation capabilities, and authorities are now working to improve the investment climate so as to attract new investors to this field. The legislative basis of renewable energy investment is currently being formed by the government based on the best international practices for the creation of a healthy climate for companies, and such a legislative basis is expected to be adopted in 2020. Support mechanisms are also being developed, and auctions have been planned to launch in 2020 so as to attract the best business partners for the development of renewable energy projects (mostly wind and solar) at specifically allocated sites. Such sites include areas in the Absheron Peninsula and on the Caspian shore.”

As the author says, Azerbaijan’s Energy Ministry is planning to increase the share of its renewable energy sources to 30 percent in its overall energy balance by 2030.

“Currently this number is about 17-18 percent, including the share of hydropower stations. On December 5, President Ilham Aliyev signed the order on the “Measures On the Implementation of Pilot Projects in the Area of Renewables,” which set the ground for expanding the usage of renewable energy sources, as well as attracting private investments to this area. Indeed, putting a premium on the development of renewable energy will allow Azerbaijan to export more oil and gas while using renewable energy sources for domestic purposes.”

The author notes that Azerbaijan is on the cusp of an energy revolution that might have seemed impossible a couple of years ago.

“As the motherland of the first industrially-drilled oil well in the world in 1846 and, subsequently, a major exporter of hydrocarbons to the international markets through the implementation of ambitious oil and gas projects, Azerbaijan has now recalibrated its energy strategy by adopting forward-looking policies with regard to its energy mix. The country believes its success in the oil and gas fields with respect to international cooperation could also be replicated in the development of its renewable energy sector. Azerbaijan is now marching towards big horizons with the aim of enriching its energy potential. Soon, Azerbaijan’s name will be associated not only with oil and gas, but also with its ambitious renewable energy projects.”

Azerbaijan eyes to launch WeChat payment solution
Azerbaijan eyes to launch WeChat payment solution
Uzbekistan, Ireland consider establishing co-op in tourism sector
Uzbekistan, Ireland consider establishing co-op in tourism sector
Iran hopes Gorgan-Aktau flight to boost its tourism industry
Iran hopes Gorgan-Aktau flight to boost its tourism industry
Loading Bars
IAEA to supply Uzbekistan with equipment for research nuclear reactor
India posts record daily rise in COVID-19 deaths as case numbers surge
Death toll in Mexico City metro overpass collapse rises to 26
About 200 Palestinians injured in clashes with Israeli police in East Jerusalem
Latvia invites Georgian companies to use its ports for logistics services
Biden administration joins global campaign against online extremism
Brazil welcomes U.S. call for talks on vaccine patents
Libya armed groups raid hotel where presidency met, its spokeswoman says
Cybercriminals developing "smart" swarm attack technologies - Fortinet
EU calls on U.S. and others to exports their vaccines
Brazil eyes new Pfizer deal next week for 100 million more COVID-19 shots
Biden concerned about Iran's seriousness in Vienna talks
Israel reports 41 new COVID-19 cases, 838,858 in total
Russia continues analyzing situation around possible Putin-Biden summit — Kremlin
Number of COVID-2019 cases across globe up by over 839,000 in past day — WHO
UK records another 2,490 coronavirus cases, 15 deaths
Azerbaijan, 10 other OSCE countries call to prevent Nazi glorification - joint statement
"You are free, dear Shusha!" - this May 8 we are in Shusha
Azerbaijani wrestler Alice Manolova wins license for 2020 Summer Olympics in Tokyo
Iran's CBI warns people of losses of trading cryptocurrencies
Large-scale Covid vaccination sites to be set up in 4 main cities of Georgia
New daily COVID-19 cases in Turkey drops to 20,107
Azerbaijani FM holds meeting with ADB Director for Azerbaijan (PHOTO)
Difficulty of my exercises at World Cup in Baku higher than in two previous competitions - Azerbaijani gymnast Arzu Jalilova
Biden says he’s confident in one-on-one meeting with Putin
Azerbaijani embassy denounces decision of Latvian parliament on events of 1915
Kazakhstan boosts goods import from Denmark
Georgian State Electrosystem plans to issue bonds
Establishment of free trade zone in Iran's Ardabil Province to improve trade - MP
Chief of ADB's Energy Sector Group unveils details on ADB Draft Energy Policy
Azerbaijani team express satisfaction for participating in Rhythmic Gymnastics World Cup
Azerbaijani team in group exercises reaches final of Rhythmic Gymnastics World Cup in Baku
Revenues from customs duties increase in Azerbaijan
Austrian IT company discloses volume of entire internet traffic accounting for people in 2020
Azerbaijan's 4M2021 revenues from State Customs Committee unveiled
Azerbaijan almost doubles export of aluminum
Azerbaijan partially resuming traditional form of education
Armenia experiences continuous population decline
EU to continue activity in Azerbaijan in field of green economy - Head of EU delegation
Head of EU Delegation to Azerbaijan talks possibilities of resuming int'l travel
Group teams perform at National Gymnastics Arena as part of Rhythmic Gymnastics World Cup in Baku (PHOTO)
Azerbaijan names finalists in exercises with ball within Rhythmic Gymnastics World Cup in Baku
Azerbaijan names finalists in exercises with hoop within Rhythmic Gymnastics World Cup in Baku
Rhythmic Gymnastics World Cup in Baku - results of performance of Azerbaijani gymnasts in exercise with hoop and ball (PHOTO)
Italian gymnast talks about friendly relations with Azerbaijani gymnast
Best moments of first day of Rhythmic Gymnastics World Cup in Baku (PHOTO)
World Cup in Baku - most long-awaited competition, says Lithuanian gymnast
WB plans to issue loan for road project in Azerbaijan
Georgian SME program aims digitization and environmental initiative to address climate change
Georgia to build enterprise for production of cleaning and detergents
Presidents of Uzbekistan, Russia consider strengthening of strategic partnership
Trade turnover between Uzbekistan and Belarus significantly increases
Hungarian lab confirms reliability of Sputnik V jab delivered to Slovakia
France's Macron: Vaccine patents not the issue, it's getting jabs out files for Wall Street IPO
Georgia, Ukraine emphasize European and Euro-Atlantic integration aspirations
Organizing committee of World Cup in Azerbaijan’s Baku doing its job perfectly - Hungarian gymnast
Hotel price index up in Georgia for April 2021
Qatar Airways to resume flights from Doha to Baku soon
Uzbekistan reveals financial performance of Uzbek mobile operators
Iran's sees increase in petrochemical exports
Indian Embassy in Baku introduced a new Sanskrit learning App, ‘Little Guru’ (PHOTO)
Azerbaijan discloses number of views of President Aliyev’s interview on Twitter (VIDEO)
Azerbaijan shares data on number of vaccinated citizens for May 7
Azerbaijan issues data on 1Q2021 export of fruits, vegetables
Azerbaijan confirms 722 more COVID-19 cases, 1,854 recoveries
Iran-Syria trade increases - Chamber of Commerce
Heydar Aliyev Foundation to organize legendary Khary Bulbul music festival in Shusha
Azerbaijan State Security Service talks arrest of illegal armed groups' members
VISA, Central Bank of Azerbaijan sign agreement on development of non-cash payments in Azerbaijan
Pakistan PM Khan in Saudi Arabia to discuss relations
Georgian Formula Construction exports building materials to Lithuania
Firefighters tackle blaze at 19-storey London tower block
Iran increases amount of jobs in free economic zones
Azerbaijan creates best conditions in National Gymnastics Arena - Uzbek gymnast
Greece, Estonia have biggest decrease in CO2 emissions from energy use
Iran says no need for direct or indirect talks with US
Georgia sees increase in international visitors
AzerGold discloses results of tender for software installation
Highest rate of inactive loans recorded in Georgian Cartu Bank
Russia documents 8,386 COVID-19 cases in past 24 hours
U.S. administers nearly 252 mln doses of COVID-19 vaccines
Georgia needs investments for faster economic recovery - PM
Azerbaijan has lower COVID-19 death rate compared to global indicators - professor
Kazakhstan sees decrease in petroleum oil exports to Spain
Baku hosts opening ceremony of Rhythmic Gymnastics World Cup (PHOTO)
Former serviceman accused of treason and espionage in Armenia
Azerbaijan plans to withdraw its peacekeepers from Afghanistan – Defense ministry
India grants permission for 5G trials to telecom service providers
Armenian side does not fulfill obligations upon int’l humanitarian law - MFA
Japan pledges $50.3 million to help India combat COVID-19
Uzbekistan and Kazakhstan developing analogy of Schengen visa for Silk Road countries
Azerbaijan forming perspective industrial complex
Azerbaijan - important int’l transport hub - chairman of Azerbaijan Railways CJSC (PHOTO)
ADB to no longer finance coal mining, oil, and natural gas field exploration
Successful policy on development of sports in Azerbaijan bearing fruit - Deputy Sports Minister
All gymnasts provided with necessary time to train for Rhythmic Gymnastics FIG World Cup in Baku - Greek gymnast
Germany says production capacity, not patents, key to upping vaccine output
Saudi to make COVID-19 vaccinations mandatory for all workers
Georgia shares data on number of citizen registered for temporary employment in Germany and Israel
All news