Energy cooperation with Guinea-Bissau was discussed

Minister of Energy Parviz Shahbazov met with a delegation led by Carlos Pinto Pereira, the Minister of Foreign Affairs, International Cooperation, and Communities of Guinea-Bissau. Guinea-Bissau's Minister of Environment Viriato Kassama and representatives from the ministries of energy and natural resources, as well as the State Oil Company of Guinea-Bissau attended the meeting.

At the meeting, opportunities for cooperation in the field of energy for the development of bilateral relations were assessed. Guinea-Bissau is interested in Azerbaijan's expertise in the areas of oil and gas, geological exploration, energy transition, and decarbonization. Discussions were held on potential cooperation directions.

During the meeting, information was provided about Azerbaijan's internationally significant projects in traditional energy, including gas supplies to 12 countries. It was noted that at present, Azerbaijan is making progress in the fields of energy transition and decarbonization, and this is evidenced by the fact that in a short period of time projects are being implemented that attract more than 2 billion USD in investment and increase the share of renewable energy in the installed energy capacity to 33%. The meeting also covered the national and regional energy transition, including the formation of a new legislative framework, cooperation with international investors directly and through auctions, and the creation of green energy interconnectors between Azerbaijan and Türkiye, Europe, and Central Asia. Additionally, they exchanged views on energy initiatives related to COP29.