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Azerbaijan, set to host the Cop29 global climate summit starting November 11, is planning a significant expansion of its fossil gas production over the next decade, according to a recent report by Urgewald and CEE Bankwatch. The state-owned oil and gas company, Socar, along with its partners, aims to increase the country’s annual gas output from 37 billion cubic meters (bcm) today to 49 bcm by 2033. Additionally, Socar has committed to boosting gas exports to the European Union by 17% by 2026.
Despite mounting concerns over Climate change, Socar diverted 97% of its capital expenditure into oil and gas projects in 2023. While the company launched a “green energy division” shortly after Azerbaijan was chosen as the Cop29 host, investments in renewable energy sources like wind and solar remain minimal. This expansion contradicts the International Energy Agency’s 2021 stance that no new fossil fuel projects should proceed if global CO2 emissions are to reach zero by 2050.
Azerbaijan’s climate action plan was rated “critically insufficient” by Climate Action Tracker in September. The report highlights that the nation is intensifying fossil fuel extraction despite being part of a small group of countries weakening their climate targets. Moreover, Azerbaijan’s economy relies heavily on fossil fuel revenues, which constitute 90% of export income and 60% of state revenues.
Human rights concerns also shadow Azerbaijan’s role as Cop29 host. The country has faced numerous accusations of human rights violations, including torture and suppression of civil liberties. Critics argue that Socar’s deep ties with the political elite could influence climate negotiations, undermining the summit’s effectiveness. Regine Richter from Urgewald questioned whether those with vested interests in fossil fuels should oversee critical climate discussions.
A Cop29 spokesperson defended the expansion, citing European demands for increased gas supplies due to disruptions from Russia. However, environmental groups remain skeptical, emphasizing the urgent need for genuine commitments to reduce greenhouse gas emissions. As the world watches Cop29, Azerbaijan’s dual role as a fossil fuel giant and climate summit host raises significant questions about the future of global climate efforts.
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