Azerbaijani Energy Minister Parviz Shahbazov has stated that nuclear energy will become a component of the country's energy balance, he made the statement at a panel session on energy at the Antalya Diplomacy Forum.
"We are transitioning to a new model and will ensure energy security not only through hydrocarbons but also through electricity, including renewable sources. Furthermore, we have decided to include nuclear energy in our energy balance, as we view it as a clean energy source and an important component of the future energy balance, given the growth in electricity demand," Shahbazov said.
The minister noted that electricity demand is expected to grow three times faster than overall consumption.
"Therefore, in our view, a smart energy transition requires a combination of natural gas, renewable sources, and nuclear energy. This, in our view, will form the basis of future global energy supply," he emphasized.
Shahbazov added that, despite its status as an oil and gas producer, Azerbaijan has seriously embraced the development of renewable energy.
"This is an important area of Azerbaijan's energy policy, defined by President Ilham Aliyev, as we see a need for all forms of energy. In the coming years, we plan to develop up to 8 GW of renewable capacity. Of this, approximately 2 GW will be integrated into our domestic energy system by 2027. The remaining capacity will be developed in subsequent years and exported – just as we did with oil and are currently doing with gas," he noted.
The minister also announced plans to develop interconnections and strengthen energy connectivity.
"No one is abandoning oil or its imports. In the future, all energy sources will be used. However, in our opinion, the key components will be natural gas, renewable energy, and nuclear energy. We plan to create such an energy balance in Azerbaijan and will continue to develop energy ties," Shahbazov added.
