Azerbaijan-Brazilian energy cooperation was discussed

The meeting with the delegation led by Rodrigo Maia President of the Chamber of Deputies of the National Congress of Brazil was held at the Ministry of Energy on May 3.

At the meeting, the sides discussed prospects of energy cooperation between the two countries.

Maia spoke about Brazil's hydrocarbon reserves, the expected increase in production due to the discovery of new deposits, reforms in the gas sector, as well as renewable energy use.

He said that Brazil is interested in energy cooperation with Azerbaijan. For this purpose, it is necessary to review the cooperation between SOCAR and Petrobras, to develop relations between the two countries' relevant energy agencies, oil and gas companies.

The Mnister of Energy of the Republic of Azerbaijan Parviz Shahbazov said that bilateral relations between Azerbaijan and Brazil are developing successfully and there are opportunities for energy cooperation. The Minister spoke about Azerbaijan`s development, the development stages of the oil and gas of the country and its role in the global energy security.

He stressed that SOCAR supplied crude oil to Brazil, as well as Brazilian crude oil and oil products to the world market, and also added that the Ministry of Energy is ready to provide the necessary support for expanding cooperation between oil and gas companies.

The Minister Parviz Shahbazov also noted that renewable energy sector is one of the possible directions for cooperation between the two countries.

“At present, a new stage in the use of renewable energy sources has been launched in Azerbaijan. Legislation and incentive mechanisms are underway in this area. Now it is a good time for cooperation and we invite Brazilian companies to participate in the renewable energy sector,” the Minister added.

During the meeting, the sides also discussed opportunities in other directions for further strengthening of relations between the two countries.