Azerbaijan, Romania set to bolster cooperation with new memorandum And speed up Green Energy Corridor project

Azerbaijan and Romania are gearing up to sign yet another memorandum of understanding.

The latest development comes on the heels of a meeting held at the Azerbaijan Energy Regulatory Agency (AERA), where discussions were held with George-Sergiu Niculescu, President of the Romanian National Energy Regulatory Authority (ANRE), who is visiting Baku, Report informs, citing AERA.

According to AERA, Niculescu's visit to Azerbaijan was in conjunction with the 8th meeting of the Joint Commission on Trade, Economic Relations, and Scientific and Technical Cooperation between the two nations' governments. This significant gathering convened on April 1, 2024, in Baku.

Deputy Chairman of the Board of AERA, Rovshan Ismailov, extended a warm welcome to Niculescu, highlighting the robust cooperation already in place between the regulatory bodies of both countries. In reciprocation, Niculescu expressed gratitude for the hospitality extended to him during his visit.

During the meeting, discussions revolved around various topics of mutual interest, with particular attention given to the prospect of signing a memorandum of understanding. This memorandum aims to further solidify the long-term cooperative relations between AERA and ANRE.

The forthcoming memorandum builds upon the foundation laid in 2018 when AERA and ANRE first established their cooperation. Since then, the partnership has continued to flourish, fostering collaboration in various sectors of mutual interest.

Then a meeting took place between Azerbaijani Energy Minister Parviz Shahbazov and Romanian Energy Minister Sebastian Ioan Burduja, who is on a visit to Baku. 

Shahbazov and Burduja noted the importance of speeding up the implementation of the Green Energy Corridor project, which is planned to be created between Azerbaijan, Georgia, Hungary and Romania.

The meeting discussed key issues of strategically important energy and trade projects in further development of relations between the countries. The sides also considered aspects of co-operation in the field of trade in oil and oil products.

It was agreed to take necessary measures to establish closer ties and strengthen cooperation between the relevant structures of both countries in the field of regulating energy issues.