Series of Bilateral Meetings held within Baku Energy Week

As part of Baku Energy Week, Azerbaijan's Minister of Energy, Parviz Shahbazov, held a series of bilateral meetings.

During a meeting with Iqbal Hassan Mahmood, Minister of Power, Energy & Mineral Resources of Bangladesh, the parties discussed prospects for advancing energy cooperation between Azerbaijan and Bangladesh. Emphasizing the importance of diversifying energy supply sources and routes to strengthen energy security, they reviewed opportunities for cooperation in crude oil and LNG supplies. The discussions also focused on expanding the existing cooperation between SOCAR and Bangladeshi companies, LNG supply, and the establishment of a long-term energy partnership. The importance of energy cooperation within the framework of the D-8 Organization for Economic Cooperation was also highlighted.

During a meeting with Ulf Heitmüller, Chairman of the Executive Board of VNG AG, the parties discussed cooperation in natural gas supply, the energy transition, and low-carbon solutions. They exchanged views on the current state of the global energy market, supply security amid the ongoing energy crisis, market diversification, and the expansion of international energy cooperation.

The meeting also focused on Azerbaijan's ongoing energy transition, the development of renewable energy sources, battery energy storage systems, and the modernization of the country's energy system. It was noted that 11 utility-scale solar and wind power projects are currently under implementation in Azerbaijan and are expected to account for a significant share of the country's installed generation capacity in the coming years. It was further emphasized that these renewable energy projects will both increase natural gas savings and expand export opportunities. At the same time, investments are being increased to strengthen the electricity grid and enhance the resilience of the energy system. The parties also discussed the future role of hydrogen, biomethane, and other alternative energy sources, as well as the strategic importance of electricity interconnector projects linking Azerbaijan with Türkiye and Europe, and assessed opportunities for further cooperation in these areas.