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Azerbaijan, Serbia sign agreement on energy cooperation within Baku Energy Week

Azerbaijan, Serbia

Azerbaijan`s Minister of Energy Parviz Shahbazov has held a number of meetings on the sidelines of the Baku Energy Week.

At the meeting with Virgil-Daniel Popescu, Minister of Energy of Romania, discussions were held on the supply of natural gas and oil from Azerbaijan, as well as on the Black Sea submarine power and digital connectivity project between Azerbaijan and Georgia and Romania. Through this project, the possibility of exporting green energy to Europe at the expense of the huge wind energy potential of the Caspian Sea was discussed. Energy Minister Parviz Shahbazov said that the use of wind energy in the Caspian Sea is in the interest of investors, and the agreement to be signed in this direction soon will increase the export opportunities of green power.

Minister Shahbazov also met with Deputy Prime Minister and Minister of Mining and Energy of the Republic of Serbia Zorana Mihajlovic as part of the event.

It was emphasized that the diversification of the Southern Gas Corridor with interconnectors is important for Serbia and the Balkan countries, as well as for Azerbaijan as a supplier. The Serbia-Bulgaria (Nis-Dimitrovgrad) gas pipeline, which will allow Serbia’s integration into the Southern Gas Corridor, as well as the Serbian-Romanian and other interconnectors were discussed. In addition to natural gas, cooperation in the field of renewable energy sources and the possibility of implementing joint projects were also considered at the meeting.

Then the Government of the Republic of Azerbaijan and the Government of the Republic of Serbia signed an agreement on cooperation in the fields of energy and mining. The agreement was signed by Parviz Shahbazov and Zorana Mihajlovic.

This agreement, which aims to rationally use the potential of both countries’ energy and natural resources, provides for cooperation in the energy sector, especially natural gas and renewable energy sources, as well as the promotion of the mutual investments in mineral exploration, regulation, energy efficiency, establishment of joint ventures. The document also reflects the continuation of cooperation to support the implementation of the Southern Gas Corridor.

About Fidan Abdullayeva