Energy cooperation to be in focus of Azerbaijan-UK talks Energy
IIKSS- Azerbaijan and the United Kingdom will discuss energy cooperation during UK Prime Minister’s Trade Envoy to Azerbaijan, Turkmenistan and Kazakhstan Baroness Nicholson’s visit to Azerbaijan on November 28–December 1.
The UK Embassy in Baku told Trend that the Baroness will lead an Oil and Gas Trade Mission to Baku and the possibility of developing partnership between Azerbaijan’s state oil company SOCAR and BP, enhancing oil and gas cooperation, which is part of the UK-Azerbaijan Intergovernmental Commission’s ongoing joint trade activities, will be discussed as part of the visit.
During the visit, Baroness Nicholson is hoping to meet with Azerbaijani President Ilham Aliyev and hold meetings with the country’s ministers and senior officials, the message said.
The UK and Azerbaijan enjoy cooperation in different spheres such as education, trade, tourism, ICT, as well as other infrastructure and transit projects.
The cooperation in the energy sector is currently the key factor of the bilateral economic relations between the two countries. Azerbaijan cooperates with the United Kingdom in the field of exploration and transportation of oil and natural gas from the Azerbaijani sector of the Caspian Sea. BP as a leading oil company, which has launched its operations in Azerbaijan in 1992, participates in the main production sharing agreements such as the “Contract of Century” (Azeri-Chirag-Guneshli) and the Shah Deniz project.
The Azerbaijani State Customs Committee reported that the trade turnover between Azerbaijan and the UK amounted to 418.06 million manats in January-August 2016, which is 1.5 times more than in the same period of 2015.