Deputy Minister: Necessary to attract foreign investment in Azerbaijan's energy sector

Azerbaijan has received a large number of requests to increase gas supplies from external partners, the country has the capacity to do so, Report informs, quoting Azerbaijani Deputy Energy Minister Elnur Soltanov as saying at an international conference where solutions to global challenges were discussed.

According to him, oil production in the country continues steadily, and natural gas production is growing due to the growth in requests from consumer countries.

Azerbaijan is also a leader in the production of electricity, the country, among other things, is exporting it.

After the liberation of the previously occupied lands of Azerbaijan, a very significant part of the state budget is going to the restoration. A lot of money is required for the construction of power plants. Therefore, it is necessary to increase the attraction of foreign investments for these purposes, he believes.

Azerbaijan is a leader in the creation of renewable energy capacities in the Caucasus. One of the country's priorities is the transition to green energy. In this regard, agreements have already been signed on the construction of solar and wind power plants.

He noted that electricity tariffs are very low in Azerbaijan, which causes problems in attracting investments.