Azerbaijan, Russia discuss energy cooperation expansion

Russian Deputy Prime Minister Alexander Novak discussed on October 31 with the Minister of Economy of Azerbaijan Mikail Jabbarov the expansion of cooperation between the two countries in the oil and gas, electricity sectors and the development of renewable energy sources.

“The largest Russian oil and gas concerns are working with Azerbaijan and are ready to expand cooperation. In particular, there are a number of new initiatives for the transit and processing of Russian hydrocarbons at Azerbaijani capacities. The task is to consolidate our efforts,” Novak noted, Interfax reports, citing the Russian government.

The parties also discussed the participation of Russian oil and gas companies in new production projects in Azerbaijan, scaling their business for selling fuel in the country, including issues of increasing reverse supplies of Russian oil through the Tikhoretsk-Baku oil pipeline.

The prospects for technological cooperation between Russian and Azerbaijani companies within the framework of the import substitution policy were also discussed.