The Current State of Azerbaijan's Gas Cooperation with Europe: Opportunities and Challenges-3

Hosting COP29 necessitates Azerbaijan to take several steps in the energy sector, environmental protection, and climate finance. Therefore, the Azerbaijani government should establish a National Agenda before COP29. This agenda should not only focus on mitigating the negative impacts of climate change and protecting environmental balance but also on accelerating the energy transition. Crucially, it should outline strategies for securing the necessary financing, as this is a key determinant of the success of these initiatives.

For the Azerbaijani government, exporting not only gas to Europe but also "green energy" has become a priority. As a result, Azerbaijan has started to pay special attention to energy production from alternative sources, as well as conserving fuel oil and natural gas used for power plants. Cooperation agreements on "green energy" projects have already been signed with the United Arab Emirates' "Masdar"[1] and Saudi Arabia's "ACWA Power."[2] Under these agreements, the construction of the 240 MW Khizi-Absheron Wind[3] and the 230 MW Garadagh Solar Power Plants[4], with a total investment value exceeding $500 million, is planned.

In conclusion, Azerbaijan is approaching the peak of its natural gas production.

Azerbaijan's Shah Deniz and ACG fields, the pillars of the country's remaining hydrocarbon resources, are currently operating at a steady pace.