"NEGlobal": Azerbaijan can play special role in energy security in new global environment

"NEGlobal": Azerbaijan can play special role in energy security in new global environment
# 10 June 2023 11:39 (UTC +04:00)

Azerbaijan can play a special role in energy security in the new global environment, considering Russia’s invasion of Ukraine and transition to a green economy, it is stated in the material published in "NEGlobal" publication, APA reports.

Baroness Emma Nicholson of Winterbourne, the UK Prime Minister’s Trade Envoy to Azerbaijan and Kazakhstan, highlighted London’s powerful partnership with Baku particularly in clean energy as well as the Central Asian country’s contribution along with its Caspian neighbor, Kazakhstan, to stabilizing global energy supplies and their transportation.

“We are confident that Azerbaijan is right in the forefront of global energy security,” Nicholson told NE Global during an interview on the sidelines of the 28th Baku Energy Forum on June 1. “Britain is the largest foreign investor in Azerbaijan, so we are really delighted to be their active partner. It’s a very exciting moment because transitioning to clean energy is difficult and we’ve been doing it with them but I’m very happy indeed on both sides on this incredibly powerful partnership,” she added.

According to the Baroness, in the last few years London’s trade and economic relationship with Baku, originally based primarily on oil and gas, has rapidly developed, and diversified into new markets, with a new and additional focus on clean energy. The UK was the main sponsor of the Offshore Wind Roadmap for Azerbaijan, which was launched jointly with the World Bank and the International Finance Corporation (IFC) during the 2022 Baku Energy Week. If developed at scale, offshore wind offers an opportunity for Azerbaijan to increase its exports of both electricity and natural gas through reduced domestic consumption and power generation, according to a publication issued by the UK Department of Business and Trade. Other areas of cooperation include decarbonization, development of green hydrogen in Azerbaijan, electrification of oil and gas platforms, energy innovation zones and energy storage solutions. Britain has also been sharing UK knowledge and experience through the Government-to Government Working Group.

In light of the Russian-Ukrainian war, Central Asia countries can play an important role in exporting energy and raw materials, including oil from Kazakhstan as well as gas and renewable energy from Azerbaijan to Europe.

Nicholson said she also visited Kazakhstan recently. “We are strong in Kazakhstan. We have the Almaty International Finance Center for example, which is unique and quite amazing but here in Azerbaijan their energy potential, particularly clean energy with Britain as a partner is outstanding. I’m very happy to be here. We’re very lucky to be Azerbaijan’s prime partner and that’s continuing,” she said in Baku.

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