RENEWABLES

“ Azerbaijan was the first country to invite foreign leading energy companies to cooperate in the Caspian Sea. We have established strategic oil pipelines to Turkey's port on the Mediterranean Sea and Georgia's port on the Black Sea, which have changed the energy map of Europe by diversifying energy supplies to the world market," said the President of the Republic of Azerbaijan, Ilham Aliyev, in his speech on "Azerbaijan's Role in energy security" at the International Forum held in Cernobbio, Italy, on September 2, 2022.

The UK has invested $28.8 billion in the Azerbaijani energy sector, Azerbaijani Energy Minister Parviz Shahbazov said.

Shahbazov made the remark at the press-conference on economic cooperation between Azerbaijan and the UK.

“In general, UK’s investments in the Azerbaijani economy amount to $30.6 billion,” the minister said.

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.