Azerbaijan, Bulgaria ink deal on joint energy development

On November 13, Presidents Ilham Aliyev of Azerbaijan and Rumen Radev of Bulgaria witnessed the signing of a strategic agreement on joint development between Azerbaijan’s State Oil Company (SOCAR) and Bulgaria’s Asarel Energy. 

The agreement, signed during the Azerbaijani-Bulgarian bilateral meeting, marks a significant step in enhancing energy cooperation between the two countries, Caliber.Az reports, citing the Azerbaijani president's press service.

President Ilham Aliyev highlighted the importance of this document, emphasizing its role in strengthening the partnership between Azerbaijan and Bulgaria.

During the meeting, President Aliyev expressed his gratitude to President Radev for attending the COP29 summit in Baku.

He noted that the conference has already delivered effective results. Aliyev also underscored that over a decade of discussions on Article 6 of the Paris Agreement, which focuses on carbon markets, had not yielded tangible outcomes until recent breakthroughs achieved in Baku.

In his remarks, President Radev praised the high level of organization of the COP29 conference, emphasizing that the results achieved during the summit are crucial for the future. He also expressed satisfaction with the ongoing successful development of Azerbaijani-Bulgarian relations.

The two leaders discussed prospects for new joint projects, particularly in the area of renewable energy, reaffirming their commitment to expanding cooperation in this sector.

By Khagan Isayev