Azerbaijan, Saudi Arabia discuss ways of expanding energy cooperation

Azerbaijan and Saudi Arabia have explored the ways of expanding the bilateral energy cooperation as a Joint Technical Commission held its first meeting.

Azerbaijani Deputy Minister of Energy Samir Valiyev hailed factors that give impetus to the development of relations in the field of energy, including intensive cooperation within OPEC+format as well as Baku`s holding the next meeting of the OPEC-Non-OPEC Joint Ministerial Monitoring Committee in March.

Co-chair of the commission on behalf of Saudi Arabia, International Relations Adviser at the Ministry of Energy, Industry and Natural Resources Shaker Mahrous said developing multilateral cooperation in the energy sector meets common interests of the two countries.

The commission focused on oil production, refining and delivery of petrochemical products to world markets, as well as the expansion of relations between Saudi Aramco and SOCAR, prospects of SABIC’s implementing petrochemical projects in Azerbaijan, as well as cooperation in the fields of renewable energy and energy efficiency.

The two countries also exchanged views on the creation of a legislative basis in the field of renewable energy, cooperation with the private sector, and cooperation with international companies.