By Azernews

By Ayya Lmahamad

Deputy Energy Minister Elnur Soltanov has said that Azerbaijani oil and gas products exports are expected to grow in the near future, Trend has reported.

He noted that Azerbaijan exports gas mainly on the basis of long-term contracts.

"As Azerbaijan's gas production grows, so does its export potential. Based on our existing contracts with EU countries, the export of Azerbaijani gas to these countries is growing," he said.

Soltanov added that new opportunities are opening up for Azerbaijan as part of cooperation with partners, noting that the relevant consortium takes all measures on gas exports and its financing.

"These steps correspond to Azerbaijan's national and economic interests," he said.

Speaking about the growth of oil and gas exports in the short term, the deputy energy minister mentioned that these figures are growing in accordance with the existing contracts and interests of Azerbaijan's partners.

Gas supplies increase

Moreover, speaking at the international conference at the ADA University, dedicated to the discussion of a global challenge, Soltanov noted that Azerbaijan has the potential to increase gas supplies.

"Azerbaijan is the main supplier of energy resources in our region. Local production and use of natural gas in the domestic market of Azerbaijan is growing and this is good both for our state and for Azerbaijan’s State Oil Company (SOCAR)," Soltanov said.

The deputy minister highlighted that Azerbaijan plans to significantly increase the production of electricity from renewable energy sources in the next 10 years.

"Azerbaijan’s liberated territories from Armenian occupation will become a completely green zone until 2050," he said.

Moreover, noting that Azerbaijan aims to meet the needs of its foreign partners in natural gas to the maximum he underlined that requests are being received from various countries for the import of Azerbaijani gas.

"As you know, we mainly export gas through pipelines, but work is underway in connection with alternative routes. The demand for Azerbaijani gas is great, this is a big responsibility, work is underway to attract additional investments to the country," he said.

Replacement of outdated power plants

Elnur Soltanov also mentioned that Azerbaijan's Energy Ministry plans to soon replace all outdated Soviet-era power plants with new ones.

He noted that 93-94 percent of the electricity produced in Azerbaijan comes from thermal power plants, requiring the use of a large amount of gas.

"In this regard, there is a plan, namely a government program aimed at increasing the production of electricity from renewable energy sources," he said.

The deputy minister also added that the price for electricity in Azerbaijan is much lower than in many other countries.

Caspian Sea

Answering the questions of reporters, Soltanov stated that the Caspian Sea has great wind power potential for electricity production. In this regard, he noted that the wind power potential of the Caspian Sea is estimated at 157 gigawatts.

"The potential of the Caspian Sea in the field of renewable energy is much greater than the total energy potential of Azerbaijan in terms of other types of alternative sources. This sea ranks second in the world for its wind energy potential. The fact suggests that the Caspian Sea is famous not only for its oil and gas resources but also clean, alternative energy,” he said.

The deputy minister stressed that the wind turbines planned for installation in the Caspian Sea will have a height of more than 90 meters.

"The installation of offshore turbines requires large investments, but the above potential makes them the most attractive for investors, and this won’t lead to an increase in electricity tariffs," he said.