Oil-rich countries like Azerbaijan are capable to become leaders in the development of clean technologies, Alain Steven, director general and founder of Energy One Solutions International.

"Many of them have the potential to leverage solar and nuclear energy, and either convert it into hydrogen or export the excess electricity to other countries," he said.

Steven believes this obviously implies large investment in hydrogen transportation and storage on one hand, and the much-touted super grids.

He said Azerbaijan has financial resources and infrastructure necessary to transform their economies and become leaders in the development of clean technologies and resources enabling the decarbonization of the society.

"Azerbaijan is particularly well positioned, as it has plenty of solar and wind resources, with a target of achieving 30% of renewable energy by 2030. In addition, it can leverage its natural gas infrastructure to develop a green hydrogen distribution system. Its access to the Caspian Sea provides opportunities for wind power," Steven said, adding that the same argument could be made for North African countries such as Algeria.

There is of course an opportunity to balance hydrogen production with electricity exports.

"In the Middle East, UAE has demonstrated, by hosting COP28, its commitment to be a leader in clean energy. They have the solar generation and financial resources to transition their economy from an oil/gas exporter to a clean energy provider. UAE is well known also for investing in clean technology worldwide," Steven noted.