Hajizadeh Elshan Makhmud oglu

Prof. Dr., Azerbaijan State University of Economics

Head of the Center for Energy Economics

National energy sector:

new realities and vision of the future

Abstract

Modern global challenges have led to the formation of new development guidelines in the national energy sector, and the process of converting oil and gas wealth into human capital has accelerated even more. On the other hand, with the liberation of Nagorno-Karabakh and the surrounding territories by the victorious Azerbaijani Army under the leadership of the Supreme Commander-in-Chief, President Ilham Aliyev, it became necessary to set new demands and tasks in the country's energy sector. His decree approved the concept document “Azerbaijan 2030: national priorities for socio-economic development”. The document reflects such development priorities as a sustainable economy, a dynamic, inclusive and socially just society, competitive human capital, a space of modern innovations, a large return to the liberated territories, a clean environment and a country of “green growth”. The reality is that all these priorities somehow cover all aspects of the energy sector. Based on this, the article analyzes and evaluates the work done in the National Energy sector, justifies new perspective visions of its development based on these priorities.

Keywords: energy sector, energy resources, economy, investment, green energy zone.

JEL Classification Codes: E 2, N 7, Q 43, Q 47