Next week Azerbaijan and France to sign memorandum of understanding for cooperation in energy field

The Azerbaijan Ministry of Energy and French Ministry of Ecology, Stable Development and Energy plan to sign the memorandum of mutual understanding on cooperation in the energy field, reported the Azerbaijan Ministry of Energy.

   According to the Ministry, the bilateral memorandum is planned to be signed during an official visit of French President Francois Hollande to Azerbaijan on May 12, 2014.

  The same source reported that in field of economy Azerbaijan is the main partner of France in the Caucasian region. In the past year the relationships between the two countries have deepened in the political, economic, social, humanitarian and other fields and reached a new level

  “The memorandum on mutual understanding on cooperation in the energy field will open new perspectives for development of cooperation between Azerbaijan and France in fields of energy safety at the global and regional level,” said the same source.

  * Only French Total company has been actively involved in the energy sector of Azerbaijan till now. It took part in the Shah-Deniz project, Southern Caucasian gas pipeline (SCP) and has recently discovered a big gas condensate field Absheron  in the deepwater section of the Caspian Sea. In early 2014 it decided to sell all its assets in Shah-Deniz and SCP.

Bakudaily.az