Azerbaijan warns accelerated energy transition could risk global security

Azerbaijani Energy Minister Parviz Shahbazov has cautioned that an accelerated energy transition without adequate preparation could pose risks to global energy security, stressing the continued centrality of hydrocarbons in the global energy mix.

Speaking at a panel session on energy at the Antalya Diplomacy Forum, Shahbazov said the global economy remains heavily dependent on fossil fuels, Caliber.Az reports per local media. 

"Global energy demand is growing by approximately 3.5% annually, and we require ever more resources. At the same time, the development of renewable energy sources does not replace hydrocarbons, but merely complements the overall energy balance," the minister noted.

He said hydrocarbons still account for roughly 80% of global energy consumption, adding that structural changes in the system have been limited.

"The global economy remains approximately 80% dependent on hydrocarbons, and this structure has not changed significantly."

Shahbazov also noted that while renewable energy is expanding, it has not displaced fossil fuels in overall supply.

"That is, it is not a replacement; rather, it is a supplement to the level of energy needed for the dynamic development of the global economy in the future," the minister emphasised.

He warned that poorly planned policy decisions during the transition could undermine energy security, particularly if they lead to underinvestment in hydrocarbons.

"The energy transition is happening, but it must be smart. In my opinion, poorly thought-out decisions during the energy transition sometimes create problems. For example, when underinvestment in the development of the hydrocarbon sector. Ultimately, we come to the question of energy security. All forms of energy must be considered, since there is no other way," Shahbazov added.

He further argued that a more balanced approach to energy policy could strengthen national energy independence.

"The more thoughtfully the energy transition is carried out, the more independence countries gain in terms of energy supply, since this builds their independence," he emphasised.

By Sabina Mammadli