Azerbaijan and Turkey have identified new areas of cooperation in energy following a meeting of six working groups within the 5th Azerbaijan-Turkey Energy Forum in Baku.
The meeting was attended by Azerbaijan's Minister of Energy Parviz Shahbazov and Turkey's Minister of Energy and Natural Resources Alparslan Bayraktar.
The heads of the working groups presented reports on cooperation in hydrocarbons and petrochemicals, the electricity market, its distribution and transmission, regulation, energy efficiency and the mining industry.
The sides discussed current and prospective projects in hydrocarbons, natural gas supplies, the development of gas infrastructure and digitalization. They agreed to continue exchanging experience in electricity market regulation, the development of interconnectors, support for renewable energy sources, energy storage technologies, smart metering systems and the "Border Carbon Adjustment Mechanism".
In addition, areas of cooperation were identified in the export of green energy and the improvement of regulatory mechanisms in the gas sector.
Azerbaijan and Turkey also agreed to expand the exchange of experience in the use of offshore wind energy, investment in renewable energy projects, permitting, the development of the active consumer model, the implementation of solar and wind projects, personnel training and the integration of renewable energy sources into the power system.
