Azerbaijan planning to boost gas, electricity, petrochemical exports - Aliyev

BAKU. May 19 (Interfax) - Azerbaijan is providing energy security for itself and other countries, including those in Europe, Azerbaijani President Ilham Aliyev said.

"Nowadays, Azerbaijan ensures its own national energy security 100% in addition to the energy security of many other countries, among them European Union members," Aliyev said at an Azerbaijani-Lithuanian business forum.

Azerbaijan is planning to boost gas, electricity and petrochemical exports, and the global demand for Azerbaijani energy "is larger than ever" amid the new geopolitical situation, he said.

The energy dialogue between Azerbaijan and the European Union, "which embraces numerous areas, such as oil, gas, electricity, hydrogen and renewable energy," kicked off in 2022, Aliyev said.

"We have a full mutual understanding and are very enthusiastic about our work, considering that this is a win-win situation," Aliyev said. Azerbaijan needs reliable, long-term markets with fair regulations and laws, "and the European market falls under this definition," he said. As far as they are concerned, European consumers need additional energy, and Azerbaijan can provide that, he added.

The share of renewable energy in Azerbaijan's energy balance may reach 40% in 2030, versus 30% planned earlier, Aliyev said.

"We are working on this. [...] We are on the right track," he said.