Azerbaijani Energy Minister Parviz Shahbazov and IEA Executive Director Fatih Birol discussed global energy trends and potential green initiatives. Topics covered were the oil and gas markets, renewable energy consumption, and Azerbaijan's role in Europe's energy supply.

Source: Report News Agency

The meeting reviewed the situation in the global oil and gas markets, factors influencing the dynamics of gas demand in Europe, the growth of renewable energy consumption, and modern energy supply trends. Fatih Birol acknowledged Azerbaijan as a reliable energy partner for Europe and expressed gratitude for its support in supplying gas to Europe during challenging times. The increase in gas exports to Europe was discussed in the context of the attitude towards fossil fuels.

Parviz Shahbazov said, "We had interesting discussions with Fatih Birol on the oil and gas market situation, Azerbaijan's current and future roles in energy supply, and cooperation on matters on the agenda of energy activities within COP29. We reached an agreement with the IEA on joint activities to promote Azerbaijan's green energy zone and green energy corridor initiatives, and achieve global cooperation on energy storage systems, high-voltage direct current (HVDC) cables, and energy efficiency."

The meeting also explored Azerbaijan's renewable energy path, its concept for developing Karabakh, Eastern Zangazur, and Nakhchivan as green energy zones, and its efforts to create Caspian-Black Sea-Europe, Azerbaijan-Turkey-Europe, and Central Asia-Europe green energy corridors.

Issues ensuring network strengthening, crucial for integrating renewable energy powers into the energy system during the transition to green energy, were discussed. The importance of supporting energy storage systems, high-voltage direct current (HVDC) cables, improving energy efficiency, and fostering global cooperation was highlighted.

They agreed to jointly cooperate on matters related to energy activities within COP29.