Azerbaijan's Central Bank engages with bp on energy forecasts

The Central Bank of Azerbaijan (CBA) held discussions with bp regarding scenarios outlined in the company's upcoming global energy development forecast.

CBA Chairman Taleh Kazimov met with bp's Chief Economist Spencer Dale and Vice President for Communications and External Relations for the Caspian region, Bakhtiyar Aslanbayli, Caliber.Az reports via local media.

During the meeting, Dale presented the bp’s Energy Outlook 2024. The discussions also encompassed Azerbaijan's macroeconomic situation, the development of a green economy, and issues related to oil and gas production.

bp’s Energy Outlook 2024 uses two scenarios – Current Trajectory and Net Zero – to explore the speed and shape of the energy transition out to 2050 and to help shape a resilient strategy for bp.

The Current Trajectory is designed to capture the broad pathway along which the global energy system is currently travelling.

Net Zero explores how different elements of the energy system might change in order to achieve a substantial reduction in carbon emissions.

The two scenarios are informed by recent trends and developments in the global energy system.

The scenarios can be used to help inform some key insights about how the energy system may evolve over the next 25 years.

By Vafa Guliyeva