The 29th session of the UN Framework Convention on Climate Change Conference (COP29) has shown significant progress in fighting climate change from its first days - achieving a historic consensus on one of the points of the most complex topic - Article 6 of the Paris Agreement.
Conference participants, including heads of state, ministers, representatives of international NGOs, and young environmental activists, note the high level of event organization and the COP29 chairman's commitment to achieving long-term results in climate issues.
Among the participants is Romania's Minister of Energy Sebastian Ioan Burduja. In an interview with Report, the minister discussed his expectations for COP29, cooperation between Azerbaijan and Romania in the energy sector, and shared his thoughts on the green energy corridor project - the "Black Sea Underwater Cable" (Black Sea Energy) and other initiatives.
- What are your expectations from COP29, and what can you say about the efforts of the Azerbaijani presidency and the international community at the conference to combat climate change?
- I think it comes at a critical time. We had high expectations coming in. Azerbaijan managed to surpass them through an excellent organization. I congratulate once again President Aliyev, Minister Shakhbazov, and everybody who was involved in this effort.
I can only imagine what it means to host 70,000 people. I understand that more people came than expected. The world is looking now at Baku and asking what will leaders do? Will they be able to go beyond just talking and into concrete financing and projects? Because at the end of the day our citizens want lower energy prices, lower utility bills. Our companies want a more competitive energy and that's what we need to deliver.
At COP29, we expect to sign the contracts for two large-scale nuclear reactors, two additional nuclear reactors, close to Constanța in Cernavodă, which will mean 1400 megawatts of clean energy, baseload production, which will be done by 2032. But this is the most critical step. So for me, Baku will always be a place of great memories and great success. That's what our citizens need. Concrete investments, financing, going from mere talk to action.
- When will the physical construction of the Black Sea Green Energy cable begin and what is the cost of this project?
- Based on the results of the preliminary feasible study, first of all, it's a critical project for us, for Azerbaijan, for Georgia, for Hungary. It's the gateway of Azerbaijan to Europe and I want you to look upon Romania as your most trusted partner in our region.
I think we had the first strategic partnership within the EU with Azerbaijan back in 2009. Our ambassador was here. For Romania, the Green Corridor project is the energy security because it's diversifying our energy routes. It's also green energy and it's also cheaper energy. The more energy routes we can access, the cheaper the energy will become.
And that's what citizens are hoping for and companies to be competitive and to have a good living standard. Yesterday we had a new inter-ministerial meeting. For the ministerial meeting, we were presented with some additional outputs by Chessy, the main company that does the design for the project. We are looking into fiber optic cable as well, potentially hydrogen. Bulgaria is in the process of joining the initiative.
I know that the Republic of Moldova is also interested, so in short, it's too early to give a number. It's going to be multi-billion, many billions, I think. But we don't have a final number yet. The point is, no matter what the cost, you can't put a price tag on energy security. So I hope that all four states will finance it. I hope the European Commission will finance it. Because as you know, in December 2022, in Bucharest, this initiative was launched with Ursula von der Leyen, the president of the Commission, and with the full support of the Commission behind it. So my call even yesterday during the meeting with the EU was to find the solution and the money needed.
- As far as I know, the SOCAR signed a gas agreement with RomGas for delivering gas from Azerbaijan. One BCM, from 2022-23. Was it signed or prolonged for the new year?
- We've not formally done it, but based on all our discussions with my dear friend Parviz Shakhbazov, Minister of Energy of Azerbaijan, we also met with President Aliyev last time I was here. It's just a formality, essentially, to prolong it when needed. Right now, Romania is covering its consumption with onshore and nearshore gas production. And in 2027, we'll double our production through the Neptune Deep project in the Black Sea.
So, if the need arises, we've always found a great partner in Azerbaijan and we're sure that we can rely on Azerbaijan as Azerbaijan can rely on Romania.
- What do you think about Azerbaijan and cooperation between Azerbaijan and Romania in the renewable energy sector?
- I think the future is very bright because we have common objectives. We're also installing a lot of photovoltaic panels, a lot of windmills.
So in total, we're financing around 10,000 megawatts right now, which should be done within three, five, maybe six years. I know Azerbaijan has similarly ambitious plans, so I think there's a lot of room for best practices. And we're also the first country on the Black Sea to have a law for offshore wind, which will encourage investment. And sometime before the end of next year, we hope we will make the first concessions in the Black Sea, which will allow us by 2032 to have the first windmills.
Again, room for cooperation with Azerbaijan, room for common efforts, and maybe common providers. So we can lower costs and indeed create this energy bridge. That is our dream of an energy bridge between Baku and Bucharest.
- Do you mean buying green energy from Azerbaijan and transit it to another country?
- That too. Again, beyond what we're producing locally, both here in Azerbaijan, the main purpose of the energy corridor is indeed to have access to green energy on both sides of this bridge.
- Is the project to build a liquefied natural gas terminal in the port of Constanta with the participation of Azerbaijan still relevant?
- In my opinion, it would be a very welcome project. We've discussed it last time. I know we have a feasibility study that's done, so we know what it involves. It's just a matter of finding the right financing mix. I don't see it conflicting with any other projects we have. Quite the contrary, it's complementary to the vertical corridor, it's complementary to many things. And it allows Azerbaijan to use a resource that probably has a window, a limited window of opportunity.
The world is transitioning gradually from fossil fuels. We're replacing coal. We need gas as a transition fuel. I think nuclear will be the answer, medium to long term. But in the meantime, Romania fully supports it. We just need to find the right financing. The most expensive part is, I believe, between Azerbaijan and Georgia in terms of infrastructure so that's where the key of the project is but at least as far as I'm concerned and I'm fully behind it.
Nazrin Babayeva
Nigar Abbasova