BAKU, Azerbaijan, June 2. Azerbaijan may set up multi-beneficial investment projects combining solar-wind-hydrogen with investments in hydrocarbons, Cyril Widdershoven, a Middle East geopolitical specialist and energy analyst, a partner at Dutch risk consultancy VEROCY, and Global Head Strategy Risk at Berry Commodities told Trend.
“If you are able to provide electricity via renewables, at cost effective ways, it will not only assist in energy transition at home, clean up environment, but also free up hydrocarbon resources for export. If this than could be linked to not hydrocarbons for energy but only products, this is a real win-win-win situation. Maybe Azerbaijan should be looking at setting up multi-beneficial investment projects between EU-UK and Azerbaijan (and others) combining solar-wind-hydrogen with investments in hydrocarbons,” he said.
Regarding Azerbaijan’s contribution to European energy security, the expert pointed out that Southern Gas Corridor is commercially seen as a very viable route and option.
“Additional natural gas supplies (and oil) are needed, in any scenario for the coming 10-15 years at least. With Russian reserves most probably out of years to come, or maybe forever, other options are needed, especially as Europe’s renewables strategies and projects will not be sufficient by far to keep energy in place that is needed. Bringing in only LNG will also not be an option, as the latter is still too expensive and too many real competitors are in the market. A long-term project as an expansion of gas pipelines from Central Asia is a necessity.
The vast reserves, and also the option to link it to other reserves in the region, only increases its potential in the future. Azerbaijan’s position is strong and clear, especially if any other moves are also going to include a peaceful settlement on crisis issues in the region,” he added.
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