Azerbaijan and Uzbekistan sign Roadmap for Continuation of Energy Cooperation

Baku/22.08.23/Turan:  In a significant move towards enhancing energy collaboration, Azerbaijan and Uzbekistan have inked a comprehensive roadmap for energy cooperation spanning the years 2023 to 2025. The bilateral agreement was sealed during a ceremony in Baku, where Energy Minister Parviz Shahbazov of Azerbaijan and his Uzbek counterpart Jurabek Mirzamakhmudov put pen to paper. The Ministry of Energy of Azerbaijan confirmed this development.

Minister Shahbazov expressed his optimism about the future of energy partnership between the two nations. "The roadmap envisions numerous energy projects ahead, serving as a catalyst for bolstering the already strong ties between Azerbaijan and Uzbekistan," he remarked.

The roadmap encompasses a diverse array of 14 key sectors, laying out avenues for collaboration in hydrocarbon resource exploration and production, as well as the establishment of joint ventures within both countries. This agreement goes beyond conventional energy, extending its purview to renewable energy sources, energy sector reform, efficient energy resource utilization, energy transition, decarbonization, and the exchange of insights and expertise related to hydrogen production.

During the meeting, Minister Shahbazov underscored the extensive possibilities for multifaceted energy cooperation between Azerbaijan and Uzbekistan. In concurrence, Minister Mirzamakhmudov emphasized the inauguration of a fresh phase in energy cooperation between the two nations. He highlighted the joint efforts of SOCAR and Uzbekneftegaz, as well as the promising prospects in the electric power sector, particularly within the domain of green energy, which will serve to fortify their energy partnership.

This recent accord builds upon a prior "roadmap" signed last year, which outlined cooperative initiatives in the realm of "green" energy. The liberated territories and green energy were earmarked as priority areas of collaboration. Minister Shahbazov reiterated the significance of this agreement in this context.

In August of the preceding year, the two countries solidified a comprehensive plan to intensify energy sector cooperation, extending through 2022 and 2023. This comprehensive plan covers 30 distinct sectors, ranging from cooperation in Azerbaijan's recently liberated lands to the participation of Uzbek entities in renewable energy projects. The agreement encompasses the import and export of oil, gas, and chemical products, collaborative efforts in oil refining, and joint projects related to hydrocarbon exploration and production.

Moreover, plans are in place for the construction of new thermal power plants, financed through private investments, with a focus on shared expertise in heat supply, energy market liberalization, and prudent energy resource utilization. The roadmap further outlines an expansion of partnership between Uzbekneftegaz and SOCAR, aiming to foster joint ventures in hydrocarbon exploration and production, and to facilitate knowledge exchange and cooperation in renewable energy projects through public-private partnerships.