Azerbaijani Minister: “Azerbaijan’s oil and gas sector received $85B foreign investment by now”

Azerbaijani Minister: “Azerbaijan’s oil and gas sector received $85B foreign investment by now”
  • Clock-gray 18:36
  • calendar-gray 16 July 2019

“Energy policy of Azerbaijan is based on mutual interests and due to this policy $100,6 billion is invested to our country, $85 billion of which is the share foreign investment, said Parviz Shahbazov, Minister of Energy at the XIII Baku Energy Summer School held at the ADA University, APA-Economics reports.

Minister of Energy in his speech “Today and tomorrow of the energy policy of Azerbaijan” has spoken about the country policy on oil-gas and energy, energy policy course formed according to the new development trends of the global energy sector, ongoing reforms and future objectives.

P. Shahbazov also stated the global energy transformation process strengthen the role of renewable energy and energy productivity, and share of electricity energy in energy production has increased in recent years in the world. She noted next targets of the current and forthcoming energy policy of our country are to achieve significant results in the use of renewable energy and energy productivity, and establishment of market prices in the electric power engineering sector. 

APA-Economics

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