SOCAR plans to enter Turkmen market to deepen cooperation

Vice President of the Azerbaijani state-owned energy company Elshad Nasirov has said that bilateral relations between Azerbaijan and Turkmenistan are rapidly developing.

He made the statement during a speech at an event dedicated to the 30th anniversary of the establishment of diplomatic relations between Azerbaijan and Turkmenistan, according to Report.

“I can confidently say that both countries keep and increase this heritage, expanding cooperation across the entire spectrum of bilateral relations. Azerbaijan has always supported and continues to support the resolutions of the UN General Assembly initiated by Turkmenistan, sometimes acting as a co-author. Both Azerbaijan for Turkmenistan and Turkmenistan for us are a fraternal country and fraternal people,” Nasirov said.

SOCAR official noted that in recent years, a contractual and legal framework has been created between the two countries, which includes over 100 documents that ensure the development of cooperation in many areas.

The signing on January 21, 2021 of the Memorandum of Understanding on the joint exploration, development and study of hydrocarbon resources of the Dostlug field in the Caspian Sea has become a new milestone in the development of bilateral relations in the oil and gas sector, Nasirov emphasized.

The vice president noted that among the signed documents, a trilateral agreement on swap gas supplies signed on November 28, 2021, between Azerbaijan, Turkmenistan and Iran, which promises the region even greater development in the future, is of particular importance.

“The Dostlug project is intended to become a platform for the multifaceted expansion of the Azerbaijani-Turkmen cooperation, in which SOCAR plays a special role. I really hope that soon we could open a branch and an office of the company to deepen and expand cooperation with fraternal Turkmenistan,” Nasirov added.