Baku energy talks strengthen EU–Azerbaijan partnership on gas and long-term energy security

euronews (in English)

In this episode of Focus, leaders gather in Baku to advance EU–Azerbaijan energy cooperation, combining natural gas delivery with investment in renewables, hydrogen and cross-border infrastructure for a sustainable future.

Transcript

00:00This gathering marks yet another significant milestone in our successful efforts to strengthen

00:08the synergy between energy security and energy transition within this framework.

00:23Energy leaders from around the world gathered for a crucial meeting in Baku.

00:28The 11th Southern Gas Corridor Advisory Council and the 3rd Green Energy Advisory Council brought

00:34together representatives from 24 countries.

00:38The focus was on strengthening a strategic energy partnership between the European Union

00:44and Azerbaijan, with the aim to deliver not just natural gas, but new momentum in renewables,

00:51energy efficiency, security, environmental protection and cleaner energy.

00:56When we get rid of Russian gas in Europe, obviously we need alternatives, and many of the countries

01:01here today are willing to help us find those alternatives.

01:05Also, we are in the middle of a green transition, not only in Europe, also in many of the businesses

01:11that are here today, and we want to work together on that.

01:14Now in its fourth year of operation, the Southern Gas Corridor remained a key theme.

01:19Last year alone, it delivered more than 25 billion cubic meters of Azerbaijani gas, with over half

01:26going to EU countries, a 57% increase since 2021.

01:32Countries like Azerbaijan, 30% renewables and gas fires, the total combination is the lowest

01:38emissions possible, but most importantly, the most reliable and stable prices.

01:43The beauty of renewables under long-term PPAs is you get a flat, low price for the next 20,

01:5030, 40 years, instead of the big volatility that we have seen with the gas prices in Europe

01:56in recent times.

01:57During the event, the Minister of Energy for Bulgaria announced that they will be the first

02:02country to start construction of the Vertical Gas Corridor.

02:06We are planning to extend our interconnectivity in the gas sector with our neighbors from

02:11Greece, which will help us also to provide more and more gas quantities from the Southern

02:16Gas Corridor.

02:17We are going to extend our capacity with 50% related to investments in the Vertical Gas Corridor

02:24here.

02:25Industry leaders and officials also tackled key priorities, like investing in infrastructure,

02:32reducing methane emissions and building greener energy networks.

02:36This project is really important because in Uzbekistan, we have really ambitious goals.

02:41By 2030, we are committed to install the renewable capacities, at least 50% of the renewable capacities

02:48in Uzbekistan.

02:49So, which means we have renewable generation will be at least 25 gigawatts by 2030, which creates

02:55a lot of opportunity for the surplus power to export to Europe.

02:58Following the hosting of COP29 in the city, the momentum is now firmly on renewable energy

03:04corridors, storage solutions and hydrogen production.

03:09Asda is a global energy renewables company and began collaborating with Azerbaijan in 2018

03:15to develop a variety of energy projects.

03:17The total amount that we've committed is exceeding 1.2 billion US dollars in terms of value.

03:23The capacity that we've committed exceeds 1.2 gigawatts.

03:26A big part of it is solar and 250 megawatts is the wind portion of that capacity.

03:34We think there is a lot more to do in Azerbaijan, in the renewable energy sector.

03:41From pipelines to green power lines, Baku is charting a path to a more secure and sustainable

03:47energy future.

03:49During the event, there was also an EU-Azerbaijan roundtable meeting on offshore wind power development

03:55between leading energy companies and financial institutions.

03:59Today, already signed contracts with our investors on solar and wind power stations will allow

04:10us to have, by 2030, 6 gigawatts of solar and wind energy.

04:18As I said, that will save a lot of natural gas, which we today use to produce electricity domestically,

04:25and that will all be available for export.

04:28The energy ministries of Azerbaijan, Kazakhstan and Uzbekistan also signed a memorandum at the

04:34event for the Caspian Green Energy Corridor.

04:37The goal is to unlock cross-border electricity trade and accelerate the region's shift to renewables.

04:45In Baku, the discussions reinforced the message that energy diplomacy is not just about powering

04:51nations, it's also about powering the future.

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