Turkey’s Erdogan ratifies energy agreement with Azerbaijan
Azerbaijan and Turkey shall cooperate in the fields of renewable and clean energy, and energy efficiency. They shall identify activity opportunities in the fields of renewable and clean energy and energy efficiency and encourage the authorized bodies and investors of both parties to support and develop the projects in these fields.
Turkey’s President Recep Tayyip Erdogan has ratified the Agreement on Cooperation in Energy and Mining signed with Azerbaijan on Feb.25, 2020, reports “Resmi Gazete”.
The objective of this agreement is to promote the development of bilateral scientific, technical, technological, legal, administrative and commercial cooperation between the parties in the fields of energy and mining, primarily in the fields of renewable and clean energy and energy efficiency, organization of production of energy.
The parties shall cooperate in the fields of renewable and clean energy, and energy efficiency. They shall identify activity opportunities in the fields of renewable and clean energy and energy efficiency and encourage the authorized bodies and investors of both parties to support and develop the projects in these fields.
The parties shall support the establishment of a working group for cooperation in this field.
They shall cooperate in the following areas related to hydrocarbon and petrochemistry:
Technical cooperation on projects related to development and use of hydrocarbon resources;
Development of cooperation on projects related to geology and reservoir engineering;
Exploration, production, transportation, processing, commercialization, distribution and trade of hydrocarbons (onshore and. offshore).