“As the head of a country rich in fossil fuels, we will certainly protect the right of these countries to continue investing and producing,” he said.
“Petrostates are perfecting a terrible COP playbook,” said Patrick Galley, fossil fuels investigator at Global Witness. “Like the UAE, Azerbaijan is planning a huge increase in gas production. Like the UAE, Azerbaijan plans to legitimize its authoritarian rule by hosting these global dialogues. “And like the UAE, Azerbaijan is ready to use the COP to develop its international trade relations.”
Baku, which has one of the most oil and gas-dependent economies of any country in the world, is expected to receive an additional $40 billion in foreign direct investment by 2034 to boost its exports. In the past year alone, the South Caucasus country struck deals with France’s TotalEnergies and Abu Dhabi National Oil Co. to expand exploration and drilling.
In March, Aliyev caution That “anti-fossil fuel tendencies” should not hinder investment and he called on European public banks to lift their restrictions on supporting fossil fuel infrastructure to help expand the Southern Gas Corridor – a 3,500-kilometre pipeline. Network that sends gas from the Caspian Sea. Europe. The European Investment Bank – which loaned millions of euros to fund the pipeline’s construction – told Politico it would not consider financing its expansion.
gas politics
Azerbaijan is considered one of the most autocratic states in the world, and Aliyev’s regime ensures “state oil and gas revenues” benefit “the privileged elite rather than the general population”. recent report From Freedom House.
The country has also fought several military conflicts with neighboring Armenia in recent years, including a recent offensive to reclaim the breakaway region of Nagorno-Karabakh. European Parliament after the attack approved targeted sanctions against Aliyev and other top officials and called for “reducing our dependence on Azeri gas imports from the EU”.