Saudi Arabia Inks Energy Cooperation Deal With Azerbaijan
A deal to collaborate in the energy sector and with regards to renewable energy has been reached by Saudi Arabia and Azerbaijan.
Petroleum, petrochemicals, gas, electricity, renewable energy, and energy efficiency were all parts of the energy sector.
Additionally, Saudi Arabia and Azerbaijan decided to work together to develop circular carbon economy solutions, including carbon collection, reuse, transport, and storage, that aim to lessen the effects of climate change.
Prince Abdulaziz Bin Salman, the Saudi Arabian energy minister, and Parviz Shahbazov, the Azerbaijani energy minister, inked the deal at a meeting in Riyadh.
The two parties explored how to work together in all areas of energy, including renewable energy.
The agreement also called for undertaking cooperative research with universities and research institutions and working together to discover novel uses of hydrocarbons in various industries.
They also decided to organise work sessions, panel discussions, seminars, and multilateral conferences in a variety of energy-related disciplines, as well as to share knowledge and experiences in the industry.
Additionally, the nations pledged to collaborate in order to create novel uses for hydrocarbons, carry out joint academic research, plan panel discussions, seminars, and multilateral conferences, and exchange knowledge and expertise in the energy sector.