Spain sees great prospects in energy cooperation with Azerbaijan

A source in Spain’s Foreign Ministry has said that Spanish renewable energy companies could make a big contribution to expanding cooperation with Azerbaijan.

“The Energy Memorandum of Understanding signed between the EU [European Union] and Azerbaijan opens up excellent cooperation prospects for our countries, not only because the Spanish company Enagas is participating in the Trans Adriatic Pipeline [TAP] project, a segment of the Southern Gas Corridor [SGC], but also because that this agreement provides for the development of renewable energy sources in Azerbaijan,” Trend quotes the ministry’s source as saying.

The source noted that the prospects in the energy sector are particularly promising for the Spanish company Tecnicas Reunidas, which has already established itself well in Azerbaijan through its partnership with the State Oil Company of Azerbaijan (SOCAR) in the modernization of the Heydar Aliyev Refinery and is looking forward to participating in next steps of this project.

The State Oil Fund of Azerbaijan (SOFAZ) can also play an important role in implementing opportunities for expanding cooperation in the energy sector, the ministry added.

During his recent visit to Spain, Azerbaijani Foreign Minister Jeyhun Bayramov said that Azerbaijan is actively discussing with Spain the expansion of cooperation in renewable energy sources.

“Azerbaijan has the potential to supply green electricity to the EU. Our countries can establish concrete and meaningful cooperation in this area. Spain is well known for its green technologies,” Bayramov said.