BAKU, Azerbaijan, November 7. A framework agreement on cooperation has been signed between the State Oil Company of Azerbaijan (SOCAR) and China's Sinopec Engineering Company, Trend reports via SOCAR.
This took place during a meeting between President of SOCAR Rovshan Najaf and President of Sinopec Engineering Company Zhang Xinming.
The meeting noted that relations between Azerbaijan and China are developing successfully in various fields, including the energy sector.
In this regard, the existing cooperation between SOCAR and Chinese companies was highly appreciated.
During the conversation, views were exchanged on issues of mutual interest in the field of oil and gas processing, petrochemicals, digitalization, energy transition, the application of modern processing technologies, and other issues of mutual interest.
The energy collaboration between Azerbaijan and China is swiftly evolving from conventional energy to a pronounced emphasis on green energy initiatives, encompassing extensive solar and wind projects, modernization of grid infrastructure, green hydrogen, and battery storage, all within a comprehensive strategic partnership aimed at establishing Azerbaijan as a regional clean energy hub. This partnership is integral to China's Belt and Road Initiative (BRI) and utilizes Azerbaijan's strategic position on the Middle Corridor to link energy markets.
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