Azerbaijan, OPEC discuss cooperation, development trends for supply dynamics

Azerbaijan’s Energy Minister Parviz Shahbazov on Monday held a meeting with visiting OPEC Secretary General Haitham Al Ghais, the Energy Ministry’s press service told News.Az.

During the meeting, issues related to the cooperation between OPEC and Azerbaijan within the Declaration of Cooperation, the participation of Azerbaijan in the regulation of the global oil market, as well as the current status and development trends related to the dynamics of supply and demand were discussed.

The historical role of Azerbaijani President Ilham Aliyev in the promotion and implementation of the OPEC plus format initiative was highly appreciated. The Secretary General said that President Ilham Aliyev’s clear vision of energy security, development of the oil and gas industry and investments leads to up new opportunities for joint activities. He noted that OPEC is pleased to share the same position with Azerbaijan.

It was noted that the goal of cooperation within the OPEC plus is to provide the world with the energy necessary for economic development. And this can be possible with the use of all types of energy.

Energy Minister Parviz Shahbazov said that the development of the oil and gas sector by reducing carbon emissions is important for sustainable energy security. Based on this approach, there is a need for cooperation on a wider platform with the participation of Azerbaijan, OPEC, other countries and organizations, and we must develop our efforts to stabilize the oil market in this direction.

During the conversation, the deepening of relations between the OPEC Secretariat and Azerbaijan, the contributions of cooperation with the member countries of the organization in the "OPEC plus" format to the partnership of Azerbaijan in the field of green energy were also discussed.



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