Energy Minister Parviz Shahbazov made a speech at the panel session Competitiveness and Sustainability: the role of Central Asia and the South Caucasus in the Green Transition at the First Azerbaijan International Investment Forum in Baku.
The important role of the far-sighted policy of President of the Republic of Azerbaijan Mr. Ilham Aliyev, which has brought peace and stability to the South Caucasus, has enhanced the importance of the Middle Corridor through the implementation of the Zangazur Corridor and strengthened strategic partnerships with Central Asian states, was noted. It was also noted that Azerbaijan has made a significant contribution to this process as the first country in the region to open the Caspian Sea to international investors, creating energy corridors from the Caspian to the Mediterranean, the Black Sea and the Adriatic Sea, attracting about 144 billion USD of foreign investment so far. "So far, the BTC pipeline has delivered 540 million tons of oil from Azerbaijan and 53 million tons from Central Asian countries to global markets. Currently, cooperation with Central Asian countries is gaining new momentum through Trans-Caspian Green Energy Corridor cooperation project.” In this regard, the Intergovernmental Agreement on strategic partnership in the development and transmission of green energy between the three countries, signed by the presidents of Azerbaijan, Kazakhstan and Uzbekistan during the COP last year, and the Implementation Program ensuring Saudi Arabia's participation as an investor in the Central Asia - Azerbaijan Green Energy Corridor were discussed. It was noted that a joint venture called Green Corridor Alliance was established with the headquarter in Baku on the project and a tender will be held next month to select a consulting company that will carry out the feasibility study of the project. It was noted that by the end of the year it is planned to start preparing the feasibility study with the financial support of the Asian Development Bank and the Asian Infrastructure Investment Bank.
The Minister added that the Trans-Caspian Green Energy Corridor, together with other interconnectors, will further increase the geostrategic importance of the South Caucasus and Central Asia by strengthening digital and transport links along with energy and environmental safety.
