Azerbaijani President: Feasibility Study for Black Sea-Caspian Energy Cable Will Be Ready Very Soon

“We also look at the export markets and work actively with our partners in order to implement another important energy security project,” said President of Azerbaijan Ilham Aliyev as he addressed the opening ceremony of the World Leaders Climate Action Summit at COP29 on November 12, The Caspian Post reports, citing AZERTAC.

The head of state mentioned the Black Sea-Caspian energy cable, saying, “this will allow us to export green energy to Europe, and the technical potential of this cable - by the way, feasibility studies will be ready very soon—is close to four gigawatt. But again, this is only the beginning.”

The 29th session of the Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change, one of the world’s most prestigious and grand events, kicked off in Baku on Nov.11.

COP29, taking place at the Baku Olympic Stadium from November 11 to 22, 2024, is the largest event Azerbaijan has organized to date and the first of its kind in the broader region.

The Host Country Agreement and other important documents have already been signed between the Government of Azerbaijan and the Secretariat of the United Nations Framework Convention on Climate Change.

The World Leaders Climate Action Summit, the highest-level event of COP29, will take place on November 12-13, 2024.

The primary expectation for the COP29 Presidency is to reach an agreement on a fair and ambitious New Collective Quantified Goal (NCQG) on climate finance.

The COP29 Presidency has put forward 14 initiatives covering topics such as the link between climate action and sustainable development goals, green energy zones and corridors, energy storage, harmony for climate resilience, agriculture, clean hydrogen, methane reduction from organic waste, green digital action, and more. Additionally, one of the initiatives includes the establishment of the Climate Finance Action Fund.

Enabling climate finance will contribute to meeting the 1.5°C commitment by bringing everyone together, as well as being a key priority for enabling action.

Azerbaijan places special importance on environmental protection and the elimination of the consequences of climate change, making great efforts on this front. The election of Azerbaijan as the COP29 host by unanimous decision is a clear example of these efforts. As emphasized by the President of Azerbaijan, Ilham Aliyev, this is an indicator of the international community’s respect and trust in Azerbaijan.

Under the motto “Let's stand together for a Green world!”, Azerbaijan, demonstrating exemplary leadership in the crucial global challenge of fighting climate change, calls on all parties to strengthen solidarity for a green, fair, inclusive, and sustainable world. As emphasized by the President of Azerbaijan, Ilham Aliyev, Azerbaijan will spare no effort in building bridges between developed and developing countries, achieving consensus during COP29, and ensuring that COP29 is a success story.

The liberated Azerbaijani territories, including the Garabagh and East Zangezur regions, along with the Nakhchivan Autonomous Republic, have been declared green zones. Environmental protection is a top priority in the ongoing large-scale restoration and reconstruction works in these liberated territories. The smart city and smart village conceptions are being applied in these areas, with the ecosystem being revived.

Under the Order of President Ilham Aliyev, dated December 25, 2023, the year 2024 has been declared the “Green World Solidarity Year” in Azerbaijan.

Azerbaijan has set ambitious targets, aiming to reduce greenhouse gas emissions by 35 percent by 2030 and 40 percent by 2050, relative to the 1990 baseline year.