A meeting took place between Azerbaijan’s Minister of Energy Parviz Shahbazov and bp’s Chief Executive Officer Meg O’Neill.
The two sides expressed satisfaction with the extension of the long‑standing strategic energy partnership and cooperation on energy security projects between Azerbaijan and bp into the areas of renewable energy and decarbonization. It was noted that the Azerbaijan‑bp partnership spans over 30 years and has delivered significant achievements during challenging periods. The implementation of the Shafag project in the liberated territories was highly commended, particularly the establishment of a mechanism that enables the virtual transmission of green electrons from Jabrayil. This mechanism was described as an important and innovative step toward a new phase in regional decarbonization and energy transmission models.
During the meeting, information was shared about the ongoing reforms in Azerbaijan’s energy sector. It was noted that the country is gradually transitioning from a traditional exporter of oil and gas to a producer of renewable energy, with its energy strategy built on a balanced approach that includes oil, gas, hydropower, wind, and solar energy. The discussions also covered the Caspian Sea’s 157 GW wind energy potential, as well as regional energy interconnection projects. Given the rising global demand for electricity, Azerbaijan has identified electricity exports as a priority direction. It was further emphasized that future interregional and international connectivity will play a decisive role not only in decarbonization efforts but also in ensuring energy security.
The parties expressed mutual interest in further broadening cooperation between Azerbaijan and bp. They also exchanged views on developments in global energy markets.
https://renewables.az/en/news/meeting-held-at-the-ministry-of-energy-with-bp-ceo