SOCAR: Renewables alone not enough for sustainable energy balance

Renewable energy sources alone are not enough for a stable and sustainable energy supply, SOCAR Deputy Vice President Vitaliy Baylarbayov said at the Baku Energy Forum, according to Report.

"We expect over 12 billion cubic meters of gas from our fields in Azerbaijan, part of which will be exported," Baylarbayov noted.

He added that Azerbaijani President Ilham Aliyev said in his speech that by 2029-2030, an additional 8 billion cubic meters of gas could be available for export.

However, this will require the construction of new export pipelines, since the Southern Gas Corridor is operating at its capacity limit, he said.

He also noted that the recent power outages in Spain and Portugal clearly demonstrated that "it is impossible to rely only on renewable energy sources."

"Renewable energy sources do not provide a reliable balance of energy supply. Refusal to invest in oil and gas projects will lead to higher prices for consumers," he noted.