Plans to increase U.S. investments in Azerbaijan's energy sector and expand participation in the country's energy infrastructure projects were discussed during the first Economic Dialogue held in Baku, U.S. Assistant Secretary of State for Economic, Energy and Business Affairs Caleb Orr said while answering journalists' questions, APA reports.
According to him, the purpose of the economic dialogue is to bring together the parties' economic proposals, develop a plan for their implementation and achieve tangible progress.
"Yes, absolutely. We are planning concrete investments in the energy sector. The purpose of this economic dialogue is to put our economic proposals together and come up with a plan to execute on them and make tangible progress, because ultimately, that's what peace is built on, shared interest in economic prosperity," Orr said.
He noted that the U.S. already has concrete investments in Azerbaijan's energy sector and is looking to build on them.
"We met with ExxonMobil while we were here in Baku at Baku Energy Week. Last year at Baku Energy Week, ExxonMobil signed an MoU for new exploration in Azerbaijan, and so we're supportive of that effort. ExxonMobil is a shareholder in several key infrastructure projects for transit in Azerbaijan. Chevron signed a new study agreement yesterday at Baku Energy Week, and so we're supporting those specific proposals as they move forward," he said.
Orr emphasized that the United States is interested in playing a larger role in Azerbaijan's energy and pipeline infrastructure projects.
"But more broadly speaking, the United States wants a greater role in the pipeline infrastructure and the other energy infrastructure that Azerbaijan is building. And we expect, because of President Trump's Trump Route for Peace and Prosperity, that we will be able to help Azerbaijan grow its role as the central node of the Middle Corridors for energy transit going to Europe and to the rest of the world," he noted.
The U.S. official described Azerbaijan as a key global energy producer and expressed confidence that bilateral cooperation would continue to expand.
"And we think that Azerbaijan is a critical producer of energy for the world right now. And the United States really benefits from this relationship, and it's one that we expect to grow significantly over the next few years," Orr added.
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