BAKU, Azerbaijan, June 5. Initially focused on oil, Azerbaijan has expanded into natural gas and is now diversifying into renewable energy, Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel said during the "International Cooperation for Energy Security and Sustainability" plenary panel at the 29th Baku Energy Forum in Azerbaijan, Trend reports.
"Since its oil and natural gas industries grew, Azerbaijan has become an indispensable player in the energy market, and the country is now branching out into renewable energy. The nation has attained notable milestones in energy security and sustainability," he emphasized.
Mohamed Hamel stressed the necessity of tailoring energy pathways to national circumstances, opportunities, and priorities.
"International collaboration in this endeavor is paramount. Establishing an equitable, orderly, acceptable, and economically viable energy transition is essential for its broad acceptance and enduring sustainability. Tackling the energy conundrum will pose even greater challenges in the future," the secretary general added.
To note, over 600 delegates are participating in the forum, which started on June 5, 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, the 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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