Economy minister: Azerbaijan holds important position in global energy sector

Azerbaijan holds a special and important position in global energy, Azerbaijan's Minister of Economy Mikayil Jabbarov said at an event within COP29.

According to Report, the minister noted that Azerbaijan is taking steps to transition from a traditional economy based on the oil and gas sector to a "green" economy.

In the last 5 years, Azerbaijan has been paying more attention to sustainable development and energy transition, and there are already positive results, the minister says, noting that Azerbaijan hosts the largest renewable energy stations in the South Caucasus.

He recalled that an agreement on the development and transfer of 'green energy' between Azerbaijan, Kazakhstan, and Uzbekistan was signed at the level of the countries' leaders two days ago. The minister noted that this is an important project connecting the energy systems of the three countries.

It involves laying an electric cable along the bottom of the Caspian Sea, he said.