Azerbaijan, Saudi Arabia ink energy cooperation accord

ECONOMICS  24 May 2023 - 18:17

Azerbaijan and Saudi Arabia have signed an agreement on cooperation in the field of energy.

Azerbaijani Energy Minister Parviz Shahbazov, who is visiting Saudi Arabia, wrote about this on his Twitter page, Caliber.Az reports.

"We signed a cooperation agreement in the field of energy with the Kingdom of Saudi Arabia, an important partner and brother country of Azerbaijan. Our energy cooperation will be multifaceted and comprehensive," the minister tweeted.

As part of the visit, Shahbazov met Chairman of ACWA Power Board of Directors Mohammad Abunayyan, Azertag reports.

The meeting discussed the current state of cooperation on the Khizi-Absheron Wind Power Plant with a capacity of 240 MW, onshore and offshore wind power with a total capacity of 2.5 GW, as well as energy storage system projects.

During the meeting, the parties discussed the action plan for implementation of the Khizi-Absheron Wind Power Plant, outstanding issues arising from the agreements signed, and agreed to intensify the construction of the station.

They noted that the Wind Power Plant would be put into operation in 2025. The station is planned to generate 1 billion kilowatt-hours of electricity per year, making it possible to save 220 million cubic meters of natural gas and prevent more than 400,000 tons of CO2 emissions into the atmosphere.

They also exchanged views on the results of studies conducted on the development of renewable energy in Nakhchivan, and the evaluation of hydrogen production in Azerbaijan. ACWA Power was invited to participate in "green energy" projects held in Nakhchivan.

Azerbaijan and Saudi Arabia established diplomatic ties on February 24, 1992. The Kingdom was one of the first countries to recognise Azerbaijan's independece on December 30, 1991. In April 1994, the Azerbaijani embassy was opened in Riyadh, and since June 1999, the Saudi embassy in Baku.

Saudi Arabia has always supported Azerbaijan's position during the voting at the UN General Assembly on "The situation in the occupied territories of Azerbaijan", as well as the OIC and on other international and regional organisations. The two countries maintain relations in a wide range of fields.

Caliber.Az