"We are starting to implement mega initiatives. Within this framework, green energy will be delivered to Europe from Azerbaijan’s wind power stations, including from Central Asia," said Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan at the 11th Southern Gas Corridor Advisory Council Ministerial Meeting and the 3rd Green Energy Advisory Council Ministerial Meeting, APA-Economics reports.
According to him, last year, natural gas accounted for 13% of the European Union's electricity generation.
"In some countries, this figure reached 35-40%. As for the Green Energy Corridors, the Caspian Sea-Black Sea-Europe, Central Asia-Azerbaijan, Azerbaijan-Türkiye, and Azerbaijan-Georgia-Türkiye-Bulgaria routes are strategic projects that will diversify Europe's energy supply. Regarding the technical foundations of the corridor, we would like to say that a joint venture has been established in this regard. This is a joint venture between the Central Asia and Azerbaijan Energy Corridor. The Asian Development Bank, including the Asian Infrastructure Investment Bank, has started financing. There are two potential export routes. We would like to note that a memorandum of understanding on electricity cooperation must be signed between Azerbaijan, Georgia, Türkiye, and Bulgaria. We are confident that the Southern Gas Corridor will evolve into a large-scale cooperation platform. Our joint efforts will yield results in this new phase and open new opportunities for energy security," Shahbazov stated.
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