Energy in Azerbaijan

[9] At that time, along with the construction of power stations, electrical networks were systematically developed and the country's sustainable energy system was created.

[12] Two gas-turbine units with a capacity of 53.5 MW each at Baku thermal power station, funded by the German bank – Bayerische Landesbank Girozentrale, and a 400MW steam gas plant at the Shimal power plant at the expense of the Japanese International Cooperation Bank's loan were commissioned in 2002.

[16] According to the Global Energy Architecture Performance Index report for 2017, compiled by the World Economic Forum, Azerbaijan ranked 36th out of 127 countries with a 0.67 score.

The final investment decision on the Azeri Central East (ACE) platform, which is planned to be built on the Azeri-Chirag-Gunashli (ACG) block, was adopted at the signing ceremony.

[26][23][27][28] The 2013 report by UK-based Global Witness NGO revealed that companies working in Azerbaijan’s oil industry have no transparency and accountability.

It has been documented that millions of dollars of revenue disappear into the hands of obscurely owned private companies that cooperate with SOCAR.

[29][30] The report concluded that the opacity of the deals struck by Socar "is systemic" and added, “These findings should be of great concern to the international community as a whole.

It is important for Europe that Azerbaijan keeps the oil and gas flowing and maintains a transparent and well-run energy industry.

Yet, this briefing shows that much of the oil business in Azerbaijan remains opaque, and corruption is still perceived to be at epidemic levels…"[30] On March 10, 2016, Natiq Aliyev, Azerbaijani energy minister, publicly said that Azerbaijan has enough gas reserves to fill the Southern Gas Corridor (SGC).

The SGC is an energy project whose goal is to move 10 billion cub meters of gas from Azerbaijan through Georgia and Turkey to Europe.

[38][39] Moreover, a number of small power stations have been set up by other companies in the country by utilizing water, wind, solar, and domestic waste.

A total of 4,778.8 million cubic meters of natural gas and 311.5 thousand tons of mazut fuel oil were used for electricity generation during the year.

[46] Aliyev cited Azerbaijani's economy, saying, "That's why it's much easier to attract investments to stable countries with socio-political stability and information growth".