Ministry of Energy and National Energy Administration of China signed Memorandum of Understanding

Energy Minister Parviz Shahbazov, who is on a visit to China within the framework of the Belt and Road International Cooperation Forum, met with Zhang Jianhua, the Head of the National Energy Administration of China.

During the meeting, discussions were held on the development of relations between the two countries within the Belt and Road project and in a bilateral format. Azerbaijan, which supports Belt and Road from the first day, has contributed to the realization of this global initiative with various projects. "It was noted that the friendship and strategic views of the heads of states promote the comprehensive development of our relations, and there are great opportunities for expanding cooperation. SOCAR's supply of crude oil, oil products, petrochemicals, as well as liquefied gas (LNG) to China and other sources, participation of Chinese companies in upstream, downstream projects and in the electric power engineering sector of our country were noted as examples of successful energy cooperation. It was noted that long-term relations with Chinese companies in the field of energy entered a new stage of development with cooperation on green energy projects and green technologies. In this regard, the participation of Dongfang in the construction of Garadagh SPP with a capacity of 230 MW, cooperation with China Gezhouba Group Overseas Investment on renewable energy projects with a capacity of 2 GW in Azerbaijan were discussed. Discussions were held on the prospects of SOCAR Trading to expand its activities in the Chinese market.

During the meeting, Memorandum of Understanding between the Ministry of Energy of the Republic of Azerbaijan and the National Energy Administration of the People's Republic of China was signed in order to develop cooperation in the fields of electricity, oil and gas, petrochemical and renewable energy and promote investment in energy projects. This document provides for the expansion of bilateral relations in the energy sector of both countries, cooperation in the introduction of new technologies, renewal of Energy Infrastructure, Promotion of Mutual Investment and business activities, exchange of experience in the field of renewable energy sources, as well as holding joint conferences, forums and trainings.