‘Together stepping into Azerbaijan’s new energy future’
Dear Minister Shahbazov,
Dear Mr. Najaf,
Ladies and gentlemen,
It is a great pleasure to join you all today.
It is my first time in Nakhchivan, and this place is absolutely captivating.
Since coming to Azerbaijan in early 2017, I have had the privilege to visit and experience many of the sites and locations of this amazing country.
But Nakhchivan is quite unique.
I feel like visiting one of the origin places of the world civilization.
I have heard a lot about Nakhchivan’s ancient historical and architectural landmarks. And I am excited at the opportunity to visit some of them this afternoon.
The deep-rooted history and symbolic identity of Nakhchivan are truly unmatched.
It is also a region of unique nature and immense cultural significance.
Some of Azerbaijan’s great thinkers, poets and writers come from here.
But most of all, it holds the tremendous legacy as the birthplace of national leader Heydar Aliyev, whose 100th anniversary is honored nationwide this year.
So, I can’t imagine a better location for this event.
Heydar Aliyev’s leadership and dedication have left an indelible mark on this country. And his memory is warmly cherished by the Azerbaijani people.
We in bp also honour this great man with deep respect and gratitude.
Heydar Aliyev’s visionary leadership has shaped Azerbaijan’s modern history and its new oil strategy.
He rightfully believed that the country’s vast hydrocarbon reserves could be key for its economic and social development.
And he realized the importance of attracting foreign investment and expertise to develop them.
Heydar Aliyev’s personal commitment and unwavering support allowed the world-class energy projects like Azeri-Chirag-Gunashli, Baku-Tbilisi-Ceyhan and Shah Deniz to be successfully delivered.
Today, we can witness the incredible results of this great leader’s strategic master plan for his country.
We can see how these mega projects paved the way to a phenomenal economic growth.
And turned Azerbaijan into a modern energy hub.
Today, Azerbaijan is a global energy player.
Its huge oil and gas reserves help meet increasing demand and ensure supply security and affordability.
Thanks to the personal support of President Ilham Aliyev and his government, the country’s major energy projects continue to bring benefits to all stakeholders.
We believe that Azerbaijan is also set to succeed in the energy transition.
Because it has all suitable conditions for this.
It possesses advanced infrastructure, solid partnerships and immense industry expertise.
It is also blessed with abundant renewable resources.
Particularly, in the regions like Nakhchivan and East Zangazur.
These areas stand out with vast solar, geothermal, hydropower and wind potential.
This mix creates an ideal opportunity for a fully net-zero energy system.
And Azerbaijan is keen to transform these territories into a model ‘green zone’.
As a company, we are deeply proud to have been part of Azerbaijan’s exciting energy story. Now, we are ready to support shaping the country’s energy future.
Last year we presented to the Ministry of Energy a set of pathways Azerbaijan could take to decarbonize its economy by 2050.
We considered how it could build on its experience in delivering energy to world markets as it navigates through the energy transition.
The possibilities are vast - ranging from resources, such as solar, wind and geothermal, to low carbon solutions, such as carbon capture and hydrogen generation.
And we are already in action on some of these pathways.
For example, we are exploring electrification options for our facilities.
We could do it by powering our offshore platforms through the grid.
Or by replacing the Sangachal terminal gas turbines with grid access.
We are also looking at renewables.
We are about to complete the field surveys for constructing a 240-megawatt solar plant in Jabrayil.
The new mechanism agreed with the Ministry will allow us to offtake the electricity generated there to run our current operations through a virtual power transfer.
We have also partnered with SOCAR to identify more potential renewable projects.
We understand that Azerbaijan will need skilled local experts to drive future energy businesses.
To help with this, we are supporting a new master’s degree programme in renewables at Azerbaijan State Oil and Industry University.
We hope it will meet the growing demand for local renewable experts, fueling Azerbaijan’s energy transition.
To summarize, Azerbaijan has huge potential to get ahead in the energy transition.
As the country’s reliable energy partner, bp is deeply committed to maximizing this potential.
We are ready to help Azerbaijan build its new, lower carbon energy future.
And we are hugely proud to be a trusted part of this exciting journey.