Azerbaijan, Romania sign energy cooperation memorandum

The Azerbaijan Energy Regulatory Agency (AERA) and Romania’s National Energy Regulatory Authority have signed a memorandum of intent to strengthen collaboration in the field of energy regulation.

According to a report from EMTA, the memorandum was signed by Samir Akhundov, Chairman of the Azerbaijani Energy Regulatory Agency, and George-Sergiu Niculescu, President of the Romanian National Energy Regulatory Authority, Caliber.Az reports, via local media.

The document aims to foster cooperation between the two agencies in the areas of electricity, renewable energy sources, natural gas, green hydrogen, and energy infrastructure.

The parties have agreed to engage in regular exchanges of information and expertise to enhance their mutual efforts.

To recall, the 10th Ministerial Meeting of the Steering Committee overseeing the implementation of the Agreement on Strategic Partnership for the development and transfer of green energy took place in Budapest, Hungary.

Representatives from Azerbaijan, Georgia, Hungary, Romania, and Bulgaria attended, alongside European Commission officials, GECO Power Company, and Italian firm CESI. The focus of the discussions was the progress and future of the Caspian-Black Sea-European Green Energy Corridor project, particularly Azerbaijan’s renewable energy potential.

Energy Minister Parviz Shahbazov outlined Azerbaijan's ongoing work with international wind energy companies and its plans for green hydrogen development. He also proposed creating two distinct working groups to focus on business models and technical details of the project. Emphasis was placed on the inclusion of fiber-optic components in the feasibility study.

A key outcome was the signing of a protocol and a joint letter from the four countries to the EU Energy Commissioner, seeking Project of Mutual Interest (PMI) status for the project.

Additionally, Bulgaria's accession to the Intergovernmental Agreement was agreed upon, with GECO authorised to integrate Bulgaria into the initiative. The next Ministerial Meeting will be held in Georgia.

The Strategic Partnership Agreement, which aims to foster green energy collaboration, was initially signed on December 17, 2022 in Bucharest.

By Aghakazim Guliyev