Caspian energy potential exceeds regional demand, says Azerbaijani minister

The energy potential of the Caspian region currently exceeds domestic demand, creating opportunities for exports to other regions, particularly Europe, Azerbaijan’s Minister of Energy Parviz Shahbazov said as he addressed a panel discussion at the Baku Energy Forum, Caliber.Az reports

“If we look at the potential of solar energy and wind energy, especially offshore wind energy in the Caspian region, we see that the energy that can potentially be generated for the countries of our region exceeds our domestic needs here. Accordingly, it can also be supplied simultaneously to the European market, where there is demand,” Shahbazov said.

He noted that, based on statistics and forecasts, European electricity demand is expected to grow significantly, with an additional requirement of 300 terawatt-hours projected by 2030.

“If we take into account the development of data centres for artificial intelligence, digitalization, electromobility, and so on, this figure will almost double. This means that Europe itself will face a need for additional energy sources and electricity. At the same time, we must consider issues of grid flexibility. We see that even now, due to the integration of renewable energy sources into our power grids—in any energy system of any country—we are facing problems of grid congestion. This is happening everywhere. This problem exists on a global scale, and we have to address it,” he said.

The minister emphasized the need for additional energy sources and interconnected infrastructure across Europe. He noted that Azerbaijan is cooperating with partners on projects in the Black Sea region aimed at linking the Caspian region with Eastern Europe.

“We are working together with Georgia, Türkiye, and Bulgaria on a project that will supply the Turkish market, also the European market. At the same time, we are connecting Azerbaijan, Kazakhstan, and Uzbekistan through an interconnector power transmission line,” he added.

Shahbazov also stressed that green energy corridors should be understood in broader terms.

“When discussing green energy corridors, it is important to understand that this is not limited to renewable energy, but concerns electricity as a whole. And this electricity flow may consist of a mix of energy resources: it can be electricity produced from gas, it can of course also be green energy, but the main thing is to ensure these flows between regions. This is our concept, and President Ilham Aliyev mentioned all these projects very clearly this morning. These projects are designed for future energy security, but we must start working on them today in order to ensure it. It will not happen overnight. Therefore, international cooperation—as I said, many countries participating in all these projects are represented here today—requires us to work together, and that is our advantage,” Shahbazov noted.

By Vafa Guliyeva