Mohsen Paknejad, Iran's Minister of Oil, emphasized the necessity of developing oil and gas cooperation between the two countries during his third meeting with Shahin Mustafayev, the Deputy Prime Minister of Azerbaijan. This meeting, held today (Tuesday, October 7), focused on various aspects of energy cooperation and reflects the long-standing and constructive relations between Iran and Azerbaijan.
Reviewing Energy Capacities in Azerbaijan
The Iranian Minister of Oil discussed the high energy capacities of Azerbaijan during this meeting. He stated: "Given the geographical location of the two countries on the Caspian Sea and proximity to regional energy markets, there are suitable opportunities for bilateral and multilateral cooperation in the energy sector." This can help develop energy trade and other areas of cooperation between the two countries.
Formation of Joint Working Groups to Follow Up on Results
Paknejad also announced the formation of joint working groups between the two sides and said: "These matters will be pursued within the framework of the working groups introduced by both sides to achieve results." These working groups are formed to explore and establish joint projects in the oil and gas sector. The two countries had previously met in Tehran in October and February 2023 and emphasized the necessity of expanding cooperation in the energy sector.
The energy relations between Iran and Azerbaijan have a multi-year history, and this meeting demonstrates the determination of both countries to strengthen cooperation in this area. Given the existing capacities and the need for both countries to develop energy infrastructure, oil and gas cooperation can contribute to economic growth and sustainable energy supply.
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