Alongside energy security, Azerbaijan should focus on diversifying its economy and developing renewable energy sources, Chairman of China’s ISETS Council Xiansheng Sun said during the session titled “Regional Energy Connectivity and Green Transition: Challenges and Opportunities,” held as part of the Azerbaijan International Investment Forum (AIIF 2026), APA reports.
He said that Azerbaijan’s energy security and economy still depend significantly on oil and gas prices and that diversification of the industrial and energy sectors is important to reduce this dependence.
Sun noted that revenues generated from the oil and gas sector should be used to invest in the development of renewable energy sources, including solar and wind energy, geothermal energy, energy storage systems and other new technologies.
“On the one hand, oil and gas production should continue, while on the other hand, investment should be made in renewable energy and new technologies,” he emphasized.
According to him, the application of carbon capture, utilization and storage (CCUS) technologies could also be one of the important areas of the energy transition.
Sun also noted the importance of developing energy infrastructure and expanding the use of digitalization and artificial intelligence.
He said that strengthening research and international cooperation, as well as developing mechanisms for measuring, reporting and verifying carbon emissions, are important for the energy transition.
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