The World Bank and Azerbaijan Continue Cooperation in Decarbonization

Laszlo Fritsch, General Director of the Hungarian MVM CEEnergy, expressed to journalists in the corridors of the Istanbul Energy Forum on November 22 his opinion that Europe cannot maintain its energy security solely through the expensive liquefied natural gas (LNG) supplied to it and should not abandon competitive gas from Russia and Azerbaijan.

At the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), countries reached a crucial agreement to establish a unified global carbon credit market. The initiative aims to optimize greenhouse gas (GHG) emission reductions and address the shortfall in climate financing.

Russia will collaborate with Turkey and Azerbaijan to bring the Turkish gas hub near Istanbul into operation, First Deputy Minister of Energy of the Russian Federation Pavel Sorokin announced to journalists on November 22 at the Istanbul Energy Forum.

On November 22, Rovshan Najaf, President of Azerbaijan's State Oil Company (SOCAR), spoke at the Istanbul Energy Forum, sharing his perspective on the use of renewable and fossil fuels globally.