A meeting was held between Azerbaijan’s Energy Minister Parviz Shahbazov and Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi on the sidelines of the Baku Energy Forum, APA-Economics reports.
During the meeting, the importance of mutual visits by the heads of state and the agreements reached in advancing relations between the two countries was emphasized. It was noted that energy cooperation between Azerbaijan and Egypt has entered a new stage in recent years.
In this context, the significance of the Memorandum of Understanding on cooperation in the fields of electricity and renewable energy signed between the relevant ministries of the two countries, as well as the Framework Agreement signed between SOCAR and EGPC in March this year covering trade in crude oil, petroleum products and LNG, along with production, exploration, refining, and human capital development, was highlighted.
It was noted that since 2023, SOCAR Trading has supplied more than 1.3 million tons of LNG to Egypt.
The meeting also reviewed opportunities for cooperation on a 200 MW solar power plant project within the framework of collaboration in the fields of electricity and renewable energy.
During the conversation, the sides also exchanged views on cooperation within the framework of the Developing Eight Organization for Economic Cooperation (D-8).
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