BAKU, Azerbaijan, October 6. Azerbaijan and the
United Kingdom have the political will and significant potential to
elevate their bilateral cooperation to the level of a strategic
partnership, the country’s Minister of Energy Parviz Shahbazov
said, Trend's
correspondent reports.


He made the remark at the 8th meeting of the Joint
Intergovernmental Commission on Trade and Economic Cooperation
between the governments of Azerbaijan and the United Kingdom of
Great Britain and Northern Ireland, currently taking place in
Baku.


According to him, Azerbaijan and the United Kingdom are
long-standing friends with strong political and economic ties based
on mutual trust.


“The progress we have made creates a solid foundation for
elevating our relations to the level of a strategic partnership. We
have the political will and significant potential to take our
cooperation to this new level. For more than three decades, the
United Kingdom has been one of Azerbaijan’s key partners thanks to
its investments and strategic cooperation in the energy sector,”
the minister said.


According to Shahbazov, the volume of UK investment in
Azerbaijan exceeds $39 billion, making it the country’s largest
foreign investor.


He noted that bilateral trade is also showing significant
growth.


“Last year, trade between our countries increased by 67%. In the
first half of this year, it grew nearly sixfold, reaching $3.6
billion, while Azerbaijan’s exports to the United Kingdom increased
24-fold,” the minister said.







P. Shahbazov noted that the strategic energy partnership,
established by the signing of the “Contract of the Century” in
1994, remains one of the key pillars of bilateral relations. “The
large-scale oil and gas projects we have jointly implemented,
including the Southern Gas Corridor, are clear evidence of our
contribution to the energy security of the region and Europe as
well. Cooperation with the British company bp continues to develop
through new projects.


The start of associated gas production at the
“Azeri-Chirag-Guneshli” field, the gas compression project at the
“Shah Deniz” field, the “Shafag-Asiman,” “Karabakh,” and
“Ashrafi–Dan Ulduzu–Aypara,” as well as our joint activities in
Uzbekistan, demonstrate the long-term nature of this partnership,”
the minister said.


Shahbazov added that cooperation is also expanding in the field
of “green” energy and decarbonization.


“The ‘Shafag’ solar power plant is expected to begin operations
next year, and the decarbonization of the Sangachal terminal
through clean energy, in turn, sets an example for the global
energy transition,” he said.


The minister noted that the changing global energy landscape is
increasing the strategic importance of power grids and regional
connectivity: “Azerbaijan is implementing major ‘green’ energy
corridor projects to connect the Caspian region and Central Asia
with Europe, including a route that will pass through Nakhchivan
and Türkiye on its way to eastern markets.”