On May 14, Mikayil Jabbarov, the Azerbaijani Economy Minister, stated that Azerbaijan is strengthening its partnership with the EU and Central Asian countries to expand renewable energy supply opportunities during the panel discussion "Azerbaijan: Emerging Gateway to Green Growth and Connectivity" at the European Bank for Reconstruction and Development (EBRD) annual meeting in London.
During the meeting, Jabbarov emphasized that all of Azerbaijan's renewable energy projects are being implemented by the private sector, primarily with the participation of foreign and local investors. He noted that the government, through SOCAR, is open to acquiring a minority stake in these projects at the request of partner investors, adding that when national resources are invested alongside foreign capital, it signals Azerbaijan’s firm commitment to the energy transition.
Jabbarov stressed that for Azerbaijan, transitioning to green energy is not merely an ideological decision but an economically rational one. Despite traditional energy sources still contributing significantly to state revenues, the minister stated that sustainable renewable energy development is feasible when projects have a solid economic foundation and attract investor interest.
Speaking about regional connectivity, Jabbarov announced that the volume of oil and oil product transportation via the Trans-Caspian International Transport Route (TITR, or Middle Corridor) would increase. Although traditionally regarded as a non-energy corridor for trade and goods transport, he highlighted the route’s significant energy potential. The minister underlined Azerbaijan’s focus on ensuring uninterrupted cargo movement, which requires close coordination among customs, border services, and other relevant agencies. He added that, while there are no serious infrastructure bottlenecks at present, Azerbaijan remains proactive in identifying and resolving potential issues.
Addressing environmental challenges, Jabbarov pointed to the decreasing water level in the Caspian Sea, which affects the carrying capacity of dry cargo and container ships, and noted that Azerbaijan is cooperating at the regional level to mitigate this risk. He also emphasized Azerbaijan’s efforts to enhance the economic attractiveness of transit routes, citing the Alat Free Economic Zone as a key example where the country seeks to leverage transit flows for industrialization and establish an industrial hub for the wider region. Jabbarov concluded by underscoring the importance of digitalization in achieving these goals and confirmed Azerbaijan’s continued investments in this area.