Azerbaijan and Czech Republic signed an agreement on energy cooperation

In order to expand and develop energy cooperation between the Republic of Azerbaijan and the Czech Republic, the Agreement between the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Industry and Trade of the Czech Republic on energy cooperation was signed.

Prior to the signing ceremony, a meeting was held between Energy Minister Parviz Shahbazov and Minister of Foreign Affairs of the Czech Republic Jakub Kulhánek. Speaking about the opportunities for the development of energy cooperation with the Czech Republic in the oil and gas and renewable energy areas, Minister Parviz Shahbazov stressed that the expansion of the Southern Gas Corridor connecting the Caspian Sea with Europe will lead to cooperation on low-carbon natural gas. At the same time, the Minister gave information about the projects implemented in the field of renewable energy with a total capacity of 700 MW and planned to be brought to auctions and invited Czech companies to participate in this process.

Foreign Minister Jakub Kulhánek also noted that energy cooperation plays an important role in the development of strategic partnership relations between the two countries. He stressed the importance of assessing the existing opportunities of his country's business circles.

After the discussions, the document on energy cooperation was signed by the Azerbaijani Energy Minister Parviz Shahbazov and Ambassador Extraordinary and Plenipotentiary of the Czech Republic Milan Ekert.

The agreement envisages the expansion of bilateral cooperation in the directions of oil and gas, petrochemicals, renewable energy, including bioenergy in the field of energy and the establishment of relations between the relevant sectors in accordance with the national legislations of both countries. Support for the implementation of joint energy projects with third countries is also expressed. In addition, the document covers the development of energy efficiency and energy-saving cooperation in the residential sector and large energy enterprises, and the matters such as the mutual exchange of information and practices, trainings, joint seminars, conferences, and forums. According to the agreement, it is planned to establish a Joint Working Group on energy cooperation.