ADB ready to support expansion of cooperation with Azerbaijan within energy supply chain

The Asian Development Bank (ADB) is ready to support the expansion of cooperation with Azerbaijan within the energy supply chain, aiming to create a secure and efficient energy supply chain that can become a lasting legacy for future generations, Joonho Hwang, Director of the Energy Sector Department of ADB, said during ministerial meetings held in Baku as part of the Consultative Councils for the Southern Gas Corridor and "green energy."

Report quotes him as saying ADB's energy policy is based on principles of ensuring reliable, affordable, and sustainable energy while strictly adhering to environmental standards.

"In light of climate change and global geopolitical shifts, it is more important than ever to prioritize energy security—not only for individual countries but for the entire region. This is the foundation for stable economic development. Amid continuing uncertainty, the importance of the Southern Gas Corridor has grown significantly. It serves as a vital route for enhancing energy resilience, diversifying supplies, and stabilizing markets," Hwang noted.

He emphasized the strategic role of Azerbaijan, Georgia, and Türkiye —ADB member countries and key producers and transit states involved in the project.

"ADB has long been a reliable partner for the Southern Gas Corridor. The partial loan guarantee of over $500 million provided for the second stage of the Shah Deniz field development has been an important financial contribution. It helped reduce costs, attract private investments, create jobs, and strengthen regional energy security," he added.

Hwang also highlighted the need to balance meeting current energy needs with achieving long-term environmental sustainability.

"Special attention should be given to developing infrastructure for clean energy and improving the efficiency of energy systems. Combined with the 'green corridor' project and other renewable initiatives, the Southern Gas Corridor can become the foundation of a new energy landscape—sustainable, adaptive, and future-oriented," he concluded.