Azerbaijan, Finland discuss development of energy cooperation

By Azernews

By Ayya Lmahamad

Azerbaijan and Finland have discussed opportunities for the development of energy cooperation, Azernews reports.

The discussion took place during a meeting between Azerbaijan’s Deputy Energy Minister Samir Valiyev and a delegation led by Finnish Foreign Ministry Under-Secretary of State for external economic relations Nina Vaskunlahti.

During the meeting, the parties noted the important role of the Southern Gas Corridor in ensuring energy security in the region and the diversification of energy resources. In this regard, they emphasized the importance of the memorandum of understanding on the strategic energy partnership signed between the European Union and Azerbaijan.

Information was provided on energy projects being implemented in Azerbaijan, the development of renewable energy sources, and measures being taken to create a green energy zone in the country’s liberated territories.

The sides noted that there is an opportunity to study Finnish experience in this area, as well as great potential for Finnish companies to participate in projects.

The meeting included an exchange of views on a number of other areas of energy cooperation of mutual interest.

Diplomatic relations between the two countries were established on March 24, 1992.

In total, five documents were signed between the Republic of Azerbaijan and the Republic of Finland. Over 10 Finnish companies have been operating in Azerbaijan in sectors such as industry, trade, construction, and services. The trade turnover between the two countries amounted to $25.8 million in 2021.