Uzbekistan and Azerbaijan signed a "road map" to expand cooperation in the field of energy

On August 29, 2022, the Ministries of Energy of the Republic of Uzbekistan and the Republic of Azerbaijan signed a road map to expand cooperation in the field of energy.

The document was signed by First Deputy Minister of Energy of the Republic of Uzbekistan Azim Akhmedkhadzhaev and Minister of Energy of the Republic of Azerbaijan Parviz Shahboz.

Based on this roadmap, during 2022-2023, the parties will be invited to participate in relevant competitions for the introduction of renewable energy sources, and exchange of knowledge in the field of construction of new thermal power plants through private investment is envisaged.

The document also provides for the promotion of mutual investments in energy projects (including electricity and natural gas), the exchange of experience in liberalization and the creation of markets, and the participation of the parties in privatization.

It is also planned to develop cooperation in the field of efficient use of energy resources, attracting the private sector to investments, training personnel, organizing joint events for the export/import of chemical and oil and gas products.

It is planned to expand the partnership between Uzbekneftegaz JSC and SOCAR (Azerbaijan), including the development of opportunities for the joint implementation of projects for the exploration and production of hydrocarbons, the organization of production practices for employees of Uzbekneftegaz enterprises and the exchange of experience, expanding cooperation on the implementation of renewable energy projects on the principles of public-private partnerships.

Recall that on July 5, 2022, negotiations were held at the Ministry of Energy of the Republic of Uzbekistan with members of the delegation of the state oil company of the Republic of Azerbaijan SOCAR.