Turkish investors urged to power Azerbaijan’s energy boom

On March 30, panel discussions on “Azerbaijan-Türkiye: Opportunities for Cooperation in the Energy Sector” were held at the Ankara Chamber of Commerce (ATO).

According to AZERTAC, the event was organised jointly by ATO, the Turkish-Azerbaijani Friendship, Cooperation and Solidarity Foundation (TADİV), and the Centre for Energy Strategy and Policy Studies of Türkiye (TESPAM). It brought together government officials, diplomats, businesspeople, and experts.

Islam Guliyev, First Secretary of the Embassy of Azerbaijan in Türkiye, highlighted the importance of events aimed at analysing the state and prospects of bilateral cooperation. He noted that one of the priority areas of strategic interaction between Ankara and Baku remains the energy sector. “Numerous joint projects between the two brotherly countries continue to make a significant contribution to economic integration and regional development, as well as international energy security,” he said, citing recent examples such as the launch of the Iğdır-Nakhchivan gas pipeline and the start of gas supplies to Syria.

The diplomat also mentioned energy forums between Türkiye and Azerbaijan and pointed to the countries’ aligned approaches in green energy, in light of the outcomes of COP29 and the agenda of the upcoming COP31.

The event continued with panel discussions moderated by TADİV Chair Professor Aygün Attar, who emphasised the importance of close Türkiye-Azerbaijan cooperation amid contemporary challenges, including escalating tensions around Iran.

Speakers on the vision for future cooperation between the two brotherly countries in the energy sector included Erdoğan Özegen, head of the Credit Guarantee Fund of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB); Selçuk Akat, board member of ATO; Bülent Atasever, Chairman of the Türkiye-Azerbaijan Business Council (DEİK); and Oğuzhan Akıener, head of TESPAM.

They highlighted SOCAR’s contribution to Türkiye’s development and called on Turkish investors to increase participation in promising sectors of Azerbaijan’s economy, including renewable energy and “green hydrogen.”

The discussions also underlined the role of the Zangezur Corridor as a new driver of regional prosperity, the country’s export potential, and the opportunities for joint Türkiye-Azerbaijan projects in third countries.

Panel participants stressed that Ankara and Baku are not competitors but complementary actors within the international energy system.