Baku and Abu Dhabi will explore the possibilities of producing sustainable aviation fuel
Azerbaijan and the UAE signed 4 documents in the energy sector in Baku yesterday, the press service of the Ministry of Energy of Azerbaijan. The Memorandum of Understanding between the Ministry of Energy of Azerbaijan and the Ministry of Investments of the UAE provides for the creation of a framework for investment cooperation in the energy sector.
The Memorandum of Strategic Cooperation provides for cooperation and the study of investment opportunities for projects for the construction of onshore solar power plants with a capacity of 2 GW, wind power plants with a capacity of 2 GW, construction of offshore wind farms with a capacity of 6 GW, as well as in such new areas as projects of "solar roofs", production of "green hydrogen", "green ammonia", synthetic methane, sustainable aviation fuel and green energy exports.
The roadmap for the construction of onshore solar and wind power plants with a capacity of 1 GW in Azerbaijan provides for measures to be implemented in 2024-2027 for the construction of one WPP and two SES in Azerbaijan.
In addition, SOCAR and Abu Dhabi National Oil Company (ADNOC) have signed an agreement on strategic cooperation. --0--
Energy
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"We need an agreement on a new ambitious climate finance goal here in Baku. Through various components, this goal should mobilize the funding necessary for developing countries," United Nations Secretary-General António Guterres stated at a media briefing at COP29 on November 21.he said.
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A balanced energy transition is key to global sustainability, said Haitham al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), in his speech at a high-level meeting during COP29. He emphasized the continuing importance of oil and gas in meeting global energy needs, calling for a balanced and inclusive approach to the energy transition.
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Natural gas currently satisfies 23% of global primary energy needs, said Mohammad Hamel, Secretary-General of the Gas Exporting Countries Forum (GECF), at the COP29 summit. He emphasized the indispensable role of natural gas in the global energy landscape, noting its contribution to economic growth, environmental sustainability, and food security.
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The European Union (EU) has warned participants at the 29th UN Climate Change Conference (COP 29) in Baku that any backsliding on the commitments made last year at COP 28 in Dubai regarding the transition away from fossil fuels would be unacceptable. The EU insists that a similar commitment be included in the final decisions of this year’s conference.
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