BAKU, Azerbaijan, June 12. Trends in the global energy market were discussed between Azerbaijan and the IEA, the country's energy minister, Parviz Shahbazov, wrote on his X page, Trend reports.
"We had fruitful discussions in Brussels with Fatih Birol, Executive Director of the International Energy Agency (IEA), on trends in the global energy market, the monitoring of COP29 energy initiatives, and plans for cooperation," the minister explained.
The IEA is central to global energy discourse, offering authoritative analysis, data, policy recommendations, and practical solutions to assist nations in delivering secure and sustainable energy for all. The IEA was established in 1974 to facilitate a coordinated response to significant interruptions in oil supplies. Although oil security continues to be a fundamental component of our operations, the IEA has undergone substantial evolution and expansion since its inception. Since 2015, the IEA has welcomed significant emerging nations to enhance its worldwide influence and strengthen collaboration in energy security, data and statistics, energy policy analysis, energy efficiency, and the increasing adoption of clean energy technology.
As part of the EU4Energy program, funded by the European Union, the IEA has developed a roadmap for long-term energy planning for the Republic of Azerbaijan. The roadmap focuses on approaches and models used in energy policy planning. State institutions will be able to utilize statistical data included in the document, its data collection methodologies, monitoring and evaluation procedures, as well as key performance indicators relevant to the field for energy planning processes.
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