Saudi Arabia & Azerbaijan sign agreement on energy cooperation

26 May 2023
Saudi Arabia & Azerbaijan sign agreement on energy cooperation

Saudi Arabia and Azerbaijan have signed an agreement in order to cooperate in energy fields and renewable energy.

The energy fields included petroleum, petrochemicals, gas, electricity, renewable energy, and energy efficiency, according to the statement.

Saudi Arabia and Azerbaijan also agreed to develop cooperation between them in the field of circular carbon economy and its technologies which aim to reduce the effects of climate change, such as carbon capture, reuse it, transporting, and storing it.

The agreement was signed by Energy Minister Prince Abdulaziz Bin Salman, and the Azerbaijani Energy Minister Mr. Parviz Shahbazov during a meeting held in Riyadh. The two sides discussed cooperation relations in all fields of energy and renewable energy, as per the statement.

“We signed a Cooperation Agreement in the field of energy with the Kingdom of Saudi Arabia, an important partner and brother country of Azerbaijan. Our energy cooperation will be multifaceted and more comprehensive,” Mr. Shahbazov tweeted.

The agreement also included cooperating in developing the innovative uses of hydrocarbons in different sectors, as well as conducting joint research with universities and research centers.

Furthermore, they agreed to organize work sessions, panel discussions and seminars, and multilateral conferences in the various fields of energy and related fields, in addition to exchanging the experiences and information related to the energy field.