Azerbaijan, Qatar eye co-op in renewables

By Azernews

By Ayya Lmahamad

Azerbaijan and Qatar have discussed opportunities for cooperation in the field of renewable energy and energy efficiency, during the meeting between Energy Minister Parviz Shahbazov and Qatar’s Ambassador Faisal Abdulla Al-Henzab.

During the meeting held on June 21, it was stressed that Azerbaijan has taken steps to attract private and foreign investments to the energy sector development. In addition, parties underlined the importance of encouraging Qatar companies to participate in auctions to be held in the future in the renewable energy field in Azerbaijan.

Furthermore, Abdulla Al-Henzab congratulated Azerbaijan on the completion of the Southern Gas Corridor project and the beginning of the transportation of Azerbaijani natural gas to Europe. He stressed Azerbaijan’s contribution to Europe’s energy security.

The two sides also noted an important role of natural gas as a transition fuel, taking into account less carbon emissions of natural gas into the atmosphere in the energy transition process.

Earlier, Azerbaijan’s Agency for Small and Medium Business Development under the Economy Ministry signed a cooperation agreement with Qatar’s Development Bank. The document provides for the exchange of experience and the implementation of joint initiatives to support the access of SMBs to financial and sales markets.

It should be noted that the trade turnover between Azerbaijan and Qatar amounted to $705,090 during the first five months of the year. In addition, the trade turnover between the two countries amounted to $2.4 million in 2020.