Today.Az » Business » Azerbaijan, Turkey expands energy cooperation
28 October 2020 [17:42] - Today.Az
By Ayya Lmahamad
The Azerbaijan Energy Regulatory Agency and the Turkish Energy Market Regulatory Authority have inked a protocol on cooperation.
The document was signed during an online meeting dedicated to expanding cooperation between Azerbaijan and Turkey in the field of energy regulation.
Turkish Energy Market Regulatory Authority President Mustafa Yilmaz said during the meeting that Turkey has always supported Azerbaijan, underlined that Azerbaijani energy regulator will be given comprehensive support to develop cooperation in all fields and establish close business ties.
In turn, Chairman of the Board of Azerbaijan Energy Regulatory Agency Samir Akhundov emphasized that energy security is one of the most important elements of Azerbaijan’s economic security, noting that relations between Energy Ministries of two countries are successfully developing.
Moreover, he noted that the purpose of the meeting is to lay the foundation and develop cooperation between two organizations, and get acquainted with Turkey’s experience in the field of energy and utility services, competitive energy market and energy efficiency.
The protocol on cooperation reflects implementation of such issues as establishing a sustainable regulatory framework for electricity and natural gas supply, seminars on energy market development, bilateral meetings, trainings, exchange of experts and experience, as well as cooperation with national, regional and international organizations regarding regional energy markets.
The document also envisages promoting bilateral consultations with the Turkish Energy Market Regulatory Authority on the development of energy regulation and further expansion of bilateral relations.
It should be noted that President of the Turkish Energy Regulatory Authority Mustafa Yilmaz, Vice-Presidents Haci Ali Ulutas and Hamdi Bildirici and other officials attended the online meeting. Azerbaijan was represented by Chairman of the Energy Regulation Agency Samir Akhundov, Vice-Chairmen Rovshan Ismailov, Ramin Babayev and others.
The Azerbaijan Energy Regulatory Agency, AERA, was established on December 22, 2017 and is a public legal entity established under the Ministry of Energy. The Agency regulates the utility sectors - electricity, natural gas and district heating in Azerbaijan.
The Turkish Energy Market Regulatory Authority was established in 2001, and regulates the electricity, natural gas, downstream petroleum and liquefied petroleum gas markets.