Deputy Energy Minister Soltanov: Azerbaijan's Green Hydrogen Potential

Azerbaijan is making significant strides towards establishing a hydrogen strategy, with Deputy Energy Minister Elnur Soltanov revealing that the country has the potential to become a key player in the green hydrogen market. The European Bank for Reconstruction and Development (EBRD) conducted a study in 2023, indicating that Azerbaijan's green hydrogen could compete effectively in Europe, highlighting the nation's promising prospects in this sector.

Soltanov emphasized that while global hydrogen production is still in its early stages, the demand for green hydrogen is gradually becoming clearer. Building on the EBRD's initial findings, Azerbaijan plans to collaborate with consulting firms to develop a comprehensive hydrogen strategy. The recent market study report, conducted by an international consultant, further underscored Azerbaijan's capability not only to support local decarbonization efforts but also to supply cost-competitive renewable fuels to regions like the European Union.

Azerbaijan's foray into green hydrogen production signifies a significant step towards sustainable energy practices and aligns with the global shift towards cleaner fuel sources. With its abundant potential in renewable hydrogen production, Azerbaijan is poised to play a pivotal role in meeting the rising demand for environmentally friendly energy solutions.