A law on the establishment of the "Energy Efficiency Fund" was adopted in Azerbaijan. This fund will function as an access to energy resources.

What changes can be made in the field of energy according to the law?

Economist-expert Emin Gharibli, making a statement to Ednews on the subject, said that this project will give momentum to the "Green Transition" plan for Azerbaijan.

"Establishing this fund is actually a very important law. As we know, the risk of running out of oil reserves is great, and therefore the "gas era" begins. Also, on the one hand, the "Green Transition" is proceeding rapidly. Therefore, we are currently trying to specialize in this. The main organization of the fund increases the benefit of energy conservation and its export potential. New systems, equipment, management systems are needed in order to implement these plans."

The expert emphasized that an additional fund has been created for more effective distribution of energy sources:

"A large amount of money is required to manage these processes. The funds allocated by the Ministry of Energy are sufficient to implement the necessary changes. However, it should be taken into account that SOCAR and other oil companies work mainly on the principle of profit. Such a law was needed to manage the necessary resources and achieve a more efficient export process. The established fund will help to make fundamental changes for a more accurate distribution of oil reserves."

Farid Akhund