Azerbaijan is moving to decarbonize the economy, boosting renewable energy and seeking a transition away from fossil fuels, minister of ecology and natural resources of Azerbaijan, incoming President of COP29 Mukhtar Babayev said in an interview with The Guardian.
Oil production was expected to reduce, he said, but gas production would need to increase to meet demands from the EU, which had sought to find gas supplies to replace those it used to get from Russia.
“We have to deliver [gas] to the European market, because of a big request from the EU. We have already adopted a program to deliver more gas. But the program is to invest all these revenues, or at least to consider how it’s possible to invest these revenues, to transform the economy in a green direction,” he said.
He also highlighted the country’s efforts to decarbonize, with a target of moving from 98% fossil fuels in its energy mix to 30% renewables by 2030. “Azerbaijan is the leader in the region to invest in alternative energy. [It is] the intention of Azerbaijan to turn the corner on our economy to green directions. Already, a lot of programs have been adopted by our government, [in pursuit of this green growth agenda],” Babayev said.
https://report.az/en/energy/cop29-president-azerbaijan-leader-in-region-in-investment-in-alternative-energy/