Energy Outlook for Asia and Pacific through 2035 published by the Asian Development Bank promises nothing good to the alternative in Azerbaijan.
According to the ADB Outlook, the alternative energy will ensure a minor increase in the share of new and renewable energy in the alternative case at 0.6% in 2035, in contrast to BAU at 0.1% in the same year.
The installed capacity for wind energy may stay at 106 MW. In the alternative case, Azerbaijan’s electricity generation in 2035 will be about 12% lower at 33.9 TWh in 2035, compared with that of BAU at 38.5 TWh.
At that, the domestic energy sector will remain “gas”: electricity generation in the alternative case is almost identical to that of BAU in 2035, with a slight contraction of the natural gas share in 2035 at 90.5% compared with BAU at 91.8%.
The Bank points out that the projects are currently curtailed by limited financial availability. Because of the country’s cost competitiveness in hydrocarbon resources, prospects for introducing more new and renewable energy sources are low, even in the alternative case.—0--
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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