By Damian Carrington
LONDON (The Guardian) — Azerbaijan, the host of the COP29 global climate summit, will see a large expansion of fossil gas production in the next decade, a new report has revealed. The authors said that the crucial negotiations should not be overseen by “those with a vested interest in keeping the world hooked on fossil fuels.”
Azerbaijan’s state-owned oil and gas company, SOCAR, and its partners are set to raise the country’s annual gas production from 37bn cubic metres (bcm) on October 23 to 49bcm by 2033. SOCAR also recently agreed to increase gas exports to the European Union by 17 percent by 2026.
The COP29 summit, starting on November 11, comes as scientists say that continued record carbon dioxide emissions means “the future of humanity hangs in the balance.” The International Energy Agency said in 2021 that no new fossil fuel exploitation should take place if CO2 emissions were to fall to zero by 2050.
But in 2023 SOCAR pushed 97 percent of its capital expenditure into oil and gas projects, the report found. The company launched a “green energy division” a few weeks after Azerbaijan was appointed as COP29 host, promising investments in wind, solar and carbon capture technologies. But according to the report, SOCAR’s renewable operations remain insignificant.
Azerbaijan’s climate action plan was rated “critically insufficient” by Climate Action Tracker (CAT) in September. “Azerbaijan is among a tiny group of countries that has weakened its climate target [and] the country is doubling down on fossil fuel extraction,” said the CAT analysts.