Energy Minister Parviz Shahbazov participated in "New challenges - new opportunities. What awaits the world oil and gas market?" panel discussions at the "Russian Energy Week" International Forum in Moscow, SIA reports. The minister shared his views on the balancing of the global oil market and the development of "green energy" in the new realities.
The minister said that "OPEC plus" cannot completely eliminate the effects of all numerous, including geopolitical, factors on the oil market. However, adequate decisions on forecasts regarding the development of oil demand provide continuous support to balancing supply and demand. The latest decision of "OPEC plus" also aims to prevent imbalance in the market, and as the production falls short of the quotas, the actual reduction is approximately 1 mln. barrels. Drawing attention to the importance of investments for balancing the oil market, the minister said that investment attraction is necessary to prevent oil shortages and price volatility in the future.
He also noted that hydrocarbons will retain their importance in the changing energy architecture, but the picture of the oil and gas sector in the world will most likely be different.
The Minister of Energy also spoke about the development of "green energy" in the current situation. Emphasizing that political and investment support is currently given to this type of energy, the minister noted that 257 GW of new renewable energy power was put into use in the world last year, and 365 billion dollars were invested in this field as facts that, confirm the development of "green energy".
"Not everyone can easily realize their goals related to "green energy" today. Therefore, failure to rationally manage the energy transition process has resulted in problems in energy supply," he stated.
"Today, the countries that have no problems with energy security are successfully implementing the course of green energy. Azerbaijan is one of the few such countries. Currently, wind and solar energy production capacities with a total capacity of 4700 MW are being created with international energy companies. We also have plans for 6 GW projects in the near future," the minister added.
The Deputy Prime Minister of the Russian Federation Alexander Novak, the Minister of Energy and Natural Resources of Turkey Fatih Donmez, the Minister of Energy of Kazakhstan Bolat Akchulakov and the Deputy Chairman of the Board of Directors of Gazprom Alexey Miller participated in the panel.
.jpg)
Bütün xəbərlər Facebook səhifəmizdə
USD
EUR
GBP
RUB