This {photograph} reveals a view of the Boyukshor Lake within the Azerbaijani capital of Baku on July 25, 2024. – Flames soar into the air from a sandstone outcrop on a hillside of the Absheron peninsula close to Baku, the capital of Azerbaijan, because it prepares to host the COP29 local weather convention from November eleventh to November 22, 2024. The “burning mountain” — Yanardag in Azerbaijani — is fed by underground fuel rising to the floor and ignited upon contact with oxygen. (Photograph by VANO SHLAMOV / AFP)
Baku, Azerbaijan — Flames soar into the air from a sandstone outcrop on a hillside of the Absheron peninsula close to Baku, the capital of Azerbaijan, because it prepares to host the COP29 local weather convention.
The “burning mountain” — Yanardag in Azerbaijani — is fed by underground fuel rising to the floor and ignited upon contact with oxygen.
The abundance of naturally occurring fires from the energy-rich nation’s big fuel deposits has earned it the nickname “The Land of Fireplace”.
READ: US senator urges COP29 host Azerbaijan to free activists
Azerbaijan’s huge oil and fuel sources “have formed the historical past, tradition, politics, and the economic system” of the Caspian nation, mentioned vitality skilled Kamalya Mustafayeva.
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Azerbaijan’s oil deposits — 7 billion barrels of confirmed reserves — have been found within the mid-Nineteenth century, making what was then a part of the Russian Empire one of many first locations on this planet to start out business oil manufacturing.
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“The world’s first industrial onshore oil properly was drilled in Azerbaijan, and likewise the primary offshore one,” Ashraf Shikhaliyev, the director of vitality ministry’s worldwide cooperation division, advised AFP.
‘Born of oil increase’
Since gaining independence from the Soviet Union in 1991, Azerbaijan has produced 1.05 billion tonnes of oil and is about to extend its pure fuel manufacturing from 37 billion cubic metres (bcm) this yr to 49 bcm over the subsequent decade, in response to official figures.
Revenues from oil and fuel manufacturing make up about 35 p.c of the nation’s GDP and almost half of the state funds.
“Azerbaijan’s oil revenues — as much as $200 billion thus far since 1991 — gave the nation a chance to make an enormous leap ahead,” mentioned Sabit Bagirov, who headed the State Oil Firm of Azerbaijan within the Nineties.
“Baku, as soon as a small fishermen’s hamlet of some 4,000 folks, was born of an oil increase,” which led to an enormous inhabitants development — at a quicker fee from the Eighteen Nineties than London, Paris, or New York — mentioned vitality skilled Ilham Shaban.
Fashionable Baku is a bustling metropolis dotted with skyscrapers, seaside promenades, and futuristic buildings designed by world-renowned architects.
The Azerbaijani capital has change into a venue for main worldwide occasions, such because the 2012 Eurovision Music Contest, matches within the Euro 2020 soccer championship, and the System 1 motor racing Grand Prix.
The manna of petrodollars helped Azerbaijan to arm itself towards arch-foe Armenia, and final yr Baku recaptured its breakaway Nagorno-Karabakh area from Armenian separatists who had managed it for many years.
‘Europe’s vitality safety’
About 75 p.c of Azerbaijan’s vitality exports go to European markets.
In 2022, the European Fee — eager to cut back Europe’s dependence on Russian fuel — signed a cope with Baku to double fuel imports from the nation.
Whereas Azerbaijan’s share of fuel provides to Europe may solely attain 5 p.c by 2033, the nation can meet all of the fuel wants of Bulgaria, Greece, Serbia, Albania, and the south of Italy, mentioned Bagirov.
“Azerbaijan has change into an essential think about making certain Europe’s vitality safety,” mentioned skilled Mustafayeva.
However fossil gas reserves, which President Ilham Aliyev has referred to as “a present of God”, are anticipated to be exhausted inside a number of a long time.
“Azerbaijan’s oil wells will run dry inside 20 years, pure fuel reserves will final for 50 years,” Bagirov mentioned.
“Financial dependence on hydrocarbons is a priority for the Azerbaijani authorities, which is making severe efforts to develop different financial sectors,” together with expertise, agriculture, and tourism, he mentioned.
Skilled Shaban mentioned “Azerbaijan’s objective is to get the utmost cash from its hydrocarbon sources earlier than Europe reaches its decarbonisation goal,” which can result in a big drop within the continent’s demand for fossil fuels.
Inexperienced agenda
Azerbaijan’s formidable plans to broaden vitality manufacturing imply the nation would emit 781 million tonnes of carbon dioxide greenhouse fuel a yr — greater than twice the annual emissions of the UK, London-based World Witness environmentalist group mentioned in January.
The prospect has prompted criticism from environmentalists forward of the COP29.
“COP hosts have a duty to ship progress and the reply shouldn’t be discovered on the backside of an oil properly or a fuel pipeline, however by means of formidable local weather finance and motion,” mentioned Jasper Inventor, Greenpeace Worldwide’s head of delegation for COP29.
Azerbaijani officers mentioned the nation is making important strides in setting its personal inexperienced agenda.
The nation goals to extend its renewable vitality capability to 30 p.c by 2030 and scale back greenhouse fuel emissions by 40 p.c by 2050.
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Shikhaliyev listed “clear vitality mega tasks” similar to remodeling the newly-recaptured Nagorno-Karabakh area right into a “inexperienced vitality zone” totally reliant on photo voltaic, wind and hydro energy.
