Baku Energy Forum focuses on AI, economic growth, and clean energy transition

euronews (in English)

Advancements in AI, economic growth in in developing countries and a switch to clean energy solutions were top of the agenda at the Baku Energy Forum at Baku Energy Week.

Transcript

00:00It's really a remarkable event which actually demonstrates our green agenda and also demonstrate

00:08that Azerbaijan is attractive not only for those who invest in fossil fuels but also

00:14for those who invest in renewables.

00:21Azerbaijan and the UAE announced a joint plan to build three major solar and wind projects

00:26in Azerbaijan with a capacity of one gigawatt at the Baku Energy Forum which opened Baku

00:32Energy Week.

00:33It really demonstrates how a country which generated wealth from fossil fuel now is channeling

00:40this wealth into the renewable energy.

00:44And as a host country of COP 29, this is also our obligation to be among the front runners

00:52on green transition.

00:53The announcement came as momentum builds for COP 29 in Baku with Azerbaijan taking over

00:59the mantle from the UAE.

01:02We set very clear and ambitious targets for tripling renewable energy capacity by 2030.

01:08We united the world around a practical pathway to keep 1.5 within reach.

01:15Around 300 companies from 37 countries came together for one of the most important events

01:21on the global energy sector calendar.

01:23The forum ran alongside two exhibitions sponsored by Caspian Power and Caspian Oil & Gas.

01:31The Caspian Oil & Gas exhibition focuses on major oil and gas projects here in the region

01:37as well as energy security.

01:39Other topics covered include development, production, transportation as well as innovative

01:45technologies.

01:47As well as calls for switching to cleaner energy solutions and advancements in AI, there

01:52was an emphasis on ensuring economic growth in developing countries and energy transition

01:58for the future of humanity.

02:00What we really want to know is what does modern energy access look like for everybody?

02:05Then what sort of energy system do we need to deliver that?

02:08So what we would say is world energy systems are no longer fit for purpose.

02:13We need to be progressive and pragmatic but we're not going to make it unless we engage

02:18more people and diverse communities in understanding their roles and choices and that's what we

02:23mean by humanising energy.

02:25Today we need to recognise that the energy system isn't working for everybody.

02:29There is a huge number of people who don't have access to electricity.

02:33750 million people don't have access to electricity and 2.2 billion people don't have access to

02:39clean cooking.

02:40This is very damaging for their health.

02:42We're also seeing in advanced economies many of the poorest people in society can't afford

02:47as much energy as they would like or they spend a huge amount on energy.

02:52And so when we think about energy transitions we need to think how to make sure that they

02:55are as fair as possible and this is where governments have a key role to play.

03:00This is where they have to make sure that we keep energy sources affordable even as

03:04we move towards cleaner sources and we move away, we transition away from fossil fuels.

03:10Geopolitics and the war in Ukraine led to a reduction in gas exports to Europe and an

03:15increase in natural gas prices.

03:17This in turn had a large impact on energy consumers with countries looking for alternative

03:22sources and suppliers.

03:24For us being a member of the European Union diversification gained a completely new meaning

03:29after the war broke out in Ukraine.

03:32So Azerbaijan being one of the key suppliers that can enable us an alternative route, an

03:40alternative gas source for our secure supply is of course of key importance and we have

03:45to build upon the relationship that was already established and we have to broaden it and

03:50deepen it.

03:52And the future of that energy security is paramount as the world looks to sustainable

03:56energy solutions moving forwards.

03:59Europe has a number of options here.

04:01It's got great offshore wind potential, it's got great solar potential and we're seeing

04:05that policy makers are moving in that direction, pushing their objectives to make sure that

04:10the climate issue can be solved alongside making sure that energy is secure and affordable.

04:16We have built our narrative on three main areas.

04:21First of all is the infrastructure.

04:23So we need to build the infrastructure that is fitting to the new energy system, more

04:28decentralised.

04:29Second, we need a legal environment, a market that is designed for renewables and not for

04:36the fossil fuels.

04:37And third, we have to increase our capabilities at governmental level as the skill for the

04:44workers and all people engaged in the transition.

04:49There was a common agreement that a sustainable future for the energy sector is only possible

04:54with a more unified global effort.

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