Azerbaijan, Egypt discuss development of energy cooperation

Since 2023, a subsidiary of the State Oil Company of Azerbaijan (SOCAR) - SOCAR Trading - has supplied more than 1.3 million tons of liquefied natural gas (LNG) to Egypt, as stated during a meeting between Azerbaijan's Energy Minister Parviz Shahbazov and Egypt's Minister of Petroleum Karim Badawi on the sidelines of the Baku Energy Forum.

According to the Ministry of Energy, cited by Report, the sides highlighted the importance of reciprocal visits by heads of state and agreements reached for the development of relations between the two countries. It was noted that energy cooperation with Egypt has reached a new level in recent years.

In this context, the importance of the Memorandum of Understanding on cooperation in electricity and renewable energy signed between the two ministries was emphasized, as well as a framework agreement signed in March this year between SOCAR and EGPC covering trade in oil, petroleum products and LNG, and exploration, production, refining and human capital development.

The parties also reviewed potential cooperation on a 200 MW solar power plant project and discussed interaction within the D-8 organization.