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We have very big plans in the energy sector. Two hydroelectric power plants with a capacity of 280 megawatts are planned to be built here, President Ilham Aliyev stated in his speech at the ceremony of commissioning the Khudaferin hydroelectric complex and the opening of the Giz Galasi hydroelectric complex built on the Araz River. The Head of State noted that the equal sharing of energy capacities will also bring additional benefits to both countries – Azerbaijan and Iran.
"I must inform you that the liberated Karabakh and Eastern Zangezur regions, as well as the Nakhchivan region, have been declared green energy zones in Azerbaijan. These regions make up about 25 percent of our territory,” Ilham Aliyev said.
According to him, the creation of "green energy" sources in these regions will benefit the entire region. Over the past three years, hydroelectric power plants with a total capacity of 270 MW have been built on the lands liberated from occupation.
“We have a specific program to increase the production capacity of these plants to 500 MW, and it will be resolved in the next two to three years,” the President of Azerbaijan stressed.
At the same time, Ilham Aliyev noted that, given the completion of the modernization of power transmission lines between Iran and Azerbaijan, “the ongoing electric power projects will benefit both our countries and other interested countries.”
Energy
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From January to May 2024, Azerbaijan imported 616.2 thousand tons of oil Russia, a third more compared to last year, Interfax reports. In monetary terms, the cost of imported Russian oil has also risen by almost a third — to $339 million. In total, Azerbaijan purchased 742.3 thousand tons of black gold in the first five months of this year (+18% compared to January-May 2023) for $416 million. Thus, Russia's share in Azerbaijani crude oil imports amounted to 83%.
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1.11 billion barrels of oil were produced from the “Central Azeri” platform, commissioned in February 2005, as part of the full-scale development of the Azeri-Chirag-Guneshli (ACG) field, by July 1, 2024, the State Oil Company of Azerbaijan (SOCAR), which has a 25 percent share in the ACG project.
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Yesterday, Azerbaijani Economy Minister Mikail Jabbarov held a meeting with Ahmed Moalim Figi, Somali Minister of Foreign Affairs and International Cooperation. They discussed issues related to bilateral economic relations between the countries and potential partnership opportunities in the energy sector. The parties stressed the expediency of establishing mutually beneficial economic ties between the two countries, expanding the contractual and legal framework in order to support the development of relations, as well as exchange of experience in areas of mutual interest.
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Azerbaijani gas supplies to Serbia may be increased in the foreseeable future, the parties are currently discussing this issue, the Minister of Labor and Social Protection of the Population of Azerbaijan Sahil Babayev told journalists.
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