Azerbaijan, UAE discuss major energy projects

Azerbaijan’s Energy Minister Parviz Shahbazov met on Tuesday with a delegation led by UAE Minister of State for Foreign Affairs Saeed bin Mubarak Al Hajeri, and the two sides discussed cooperation in oil and gas, renewable energy, energy efficiency, regional energy corridors and logistics.

The meeting, held within the framework of the comprehensive strategic partnership between Azerbaijan and the United Arab Emirates, reviewed the current state and prospects of bilateral cooperation in the energy sector. The sides highlighted joint projects in the energy field, as well as the role of the cooperation committee established under the strategic partnership and its energy subcommittee in advancing bilateral ties.

The parties assessed progress on joint projects involving energy companies from both countries, natural gas exports and opportunities for access to European markets through existing infrastructure, given the significant role of hydrocarbons in the global energy mix and the importance of natural gas as a transition fuel.

They cited the 230-megawatt solar power plant as a successful example of cooperation in renewable energy and said work was continuing with Masdar on 1,000 MW of solar and wind power projects.

The talks also covered the initiative to create an electricity corridor between Azerbaijan and the European Union via the Black Sea, modelled on the Southern Gas Corridor. The project was described as important for strengthening Europe’s energy security and supporting the energy transition.

Azerbaijan also provided information on a joint venture set up to build an interconnection linking Azerbaijan, Kazakhstan and Uzbekistan. The project is currently at the feasibility study stage and is being financed by the Asian Development Bank and the Asian Infrastructure Investment Bank.

The two sides also discussed opportunities for cooperation with the UAE in regional energy supply and logistics.

They additionally focused on expanding cooperation in energy efficiency, agreeing to exchange the UAE’s best practices under the ESCO model and to develop cooperation in new areas in the sector.

N.Tebrizli