Diplomatic relations between Azerbaijan and Uzbekistan have developed rapidly in recent years, and joint projects in the energy sector are a priority, said Khayud Ibrahimov, head of the Uzbekistan Institute of Energy Diplomacy and Geopolitics, APA's correspondent dispatched to Tashkent reports.
He said that the development of these relations can be observed, especially in high-level official meetings and mutual visits: "This indicates not only diplomatic, but also friendly relations between two countries."
The head of the institute noted that bilateral cooperation in the energy sector is expanding further: "The joint project on the development of deposits in the Ustyurt region of Uzbekistan is of particular importance. Within the framework of this project, Uzbekistan and Azerbaijan will establish a joint venture to conduct geological surveys, and the cost of this project will be $ 70 million. In addition, joint ventures on chemicals are also operating between the two countries. Also, a memorandum on "green" energy transport was signed between Uzbekistan, Azerbaijan and Kazakhstan. With this project, "green" energy produced in Uzbekistan and Kazakhstan will be delivered to Azerbaijan via the Caspian Sea and subsequently sold to the European Union."
He noted that the prospects of the “green” energy corridor project are very broad: “Because the growing demand for electricity in Europe, as well as the increase in production capacity in Uzbekistan and Kazakhstan through the use of renewable energy sources, makes this project even more significant. The development of energy and logistics corridors will play an important role in the project’s success.
On the other hand, the number of participating countries is increasing. Bulgaria has already joined the Black Sea project, and in the near future other countries are also expected to join the ‘green’ energy corridor project.”
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