A Memorandum of Understanding was signed today between BP and "Azerenerji" to electrify the Sangachal terminal.
According to the Memorandum, a technical solution of the project will be prepared, where the total scope of work on the "Sangachal Terminal Electrification Project" (STEL) and its distribution between "Azerenerji" and BP will be determined. A detailed technical design and commercial basis for the project will also be agreed to clarify the scope of work. This is necessary to specify the commercial viability of the project.
Azerbaijani President Ilham Aliyev has revealed plans to open a Baykar Holding training, testing and repair center in Azerbaijan, scheduled for 2024-2025. Speaking during a meeting in Ankara with Turkish President Recep Tayyip Erdogan, Aliyev highlighted the significant achievements made in the defense industry, emphasizing the key role of unmanned aerial vehicles (UAVs) in accelerating technological progress and expanding strategic capabilities.
High-level discussions between Azerbaijani Economy Minister Mikail Jabbarov and Saudi Deputy Energy Minister Majid bin Hindi Aluteibi paved the way for a growing partnership between the two countries. At the meeting held in Baku on Tuesday, ways to strengthen bilateral relations were considered, with an emphasis on stimulating investment and developing cooperation in the field of renewable energy sources, industry and other strategic sectors.
In a step towards renewable energy, BP, one of the world's leading energy companies, is poised to make a final investment decision on the Shafag Solar Power Plant (SPP) by the end of this year. The proposed solar power plant, with a capacity of 240 MW, is slated to be situated in Jabrayil, marking a significant milestone in Azerbaijan's transition towards sustainable energy sources.