Budget of Project for Future Expansion of Tengiz Could Rise to $ 45 Billion

The technical potential of renewable energy in Azerbaijan is estimated at 135 GW on land and 157 GW at sea, the President of Azerbaijan, Ilham Aliyev,  stated at the opening of the COP29 World Leaders Summit on Climate Change in Baku yesterday.

President of Azerbaijan Ilham Aliyev, in his speech at the opening of the COP29 World Leaders Summit on Climate Change in Baku, expressed his disagreement with those who still call Azerbaijan an oil state. "Today, this is unjust and reflects a lack of political culture and knowledge," the head of state emphasized.

The Group of Twenty (G20) is the largest source of emissions into the atmosphere. This was stated by UN Secretary-General António Guterres at the opening of the COP29 World Leaders Summit on Climate Change in Baku.

Azerbaijan has updated its renewable energy target for 2030 to 35.5%. This was announced by Azerbaijan’s Minister of Energy, Parviz Shahbazov, during the ministerial dialogue on "Scaling investments to triple renewable energy capacity and double energy efficiency."