The Minister of Energy of Azerbaijan held a number of meetings in the UAE

The Minister of Energy Parviz Shahbazov, who is visiting Abu Dhabi, the capital of the United Arab Emirates, has held a number of meetings.

Within the meeting with Fatih Birol, Executive Director of the International Energy Agency (IEA), the sides exchanged views on the current situation in the global oil market, factors affecting oil prices, as well as supply and demand, diversification of the economy in the oil countries and the development of renewable energy sources. The Minister Parviz Shahbazov gave detailed information on the measures taken within the energy sector reforms and highlighted the importance of intensive cooperation with the International Energy Agency in the development of the project of “Long-term Development Strategy of the Energy Sector of the Republic of Azerbaijan“. Fatih Birol appreciated the activities of Azerbaijan in the energy sector in accordance with the new challenges and noted that they will support the development of the strategy project.

The issues of expanding cooperation in the field of renewable energy and support for this area were discussed at the meeting with Vice President of National Energy Administration of China Lin Shanqing. In April, the Minister reminded the opportunities that arouse out of the visit by the head of state to China and documents signed within the second Belt and Road International Cooperation Forum for the improvement of the relations in various fields, including the energy sector. The Minister called the Chinese companies for an active involvement in the renewable energy field.

The Minister also met with a delegation led by the president of the World Petroleum Council Tor Fjaeran. Tor Fjaeran highlighted that Azerbaijan has shown high results in the vote to host the 24th World Petroleum Congress and made suggestions for deepening relationa with our country. The sides exchanged views on the representative of Azerbaijan at various events of the World Petroleum Council in recent and future years, the expected visit of Tor Fjaeran to our country, as well as development trends in petrochemical and oil refining.

At the meeting with Mongolian Minister of Energy Tserenpil Davaasuren, the sides discussed issues of cooperation between the two countries in the field of energy, as well as education of Mongolian students at the Azerbaijan State Oil and Industry University. “Memorandum of Understanding on energy cooperation between the Ministry of Energy of Mongolia and the Ministry of Energy of the Republic of Azerbaijan” are ready to sign. They also expressed interest in cooperation with Azerbaijan in the development of the Mongolian oil sector.

During the visit, meetings were also held with the Minister of Energy of the United Arab Emirates (UAE) Suhail Mohamed Al-Mazrouei, Co- Chair of the World Energy Council Jean Marie Dauger and Minister of Oil and Gas of India Dharmendra Pradhan, and the sides exchanged views on bilateral cooperation.