BAKU, Azerbaijan, March 11. Cooperation with U.S. partners is contributing to Azerbaijan's energy sector modernization, the statement of the State Oil Company of Azerbaijan (SOCAR) says, Trend reports.
This issue was discussed at the U.S.-Azerbaijan Trade and Business Conference held in Washington and dedicated to the development of a strategic partnership between the two countries, including the expansion of economic cooperation and the strengthening of trade relations.
An opening session was held within the framework of the conference on the topic of “Strengthening bilateral trade and strategic cooperation”.
Speaking at the session, SOCAR President Rovshan Najaf said that the successful cooperation between Azerbaijan and the U.S. in the energy sector for more than thirty years has made a significant contribution to the development of our country's energy sector. Noting that U.S. companies were among the first partners to participate in Azerbaijan's major oil and gas projects, the SOCAR President said that the solid foundation of this cooperation was laid with the signing of the "Contract of the Century".
Saying that the fruitful cooperation between SOCAR and U.S. companies has expanded in various areas of the energy sector over the past years, Najaf emphasized that this partnership covers important areas, including exploration and production, as well as engineering, digital technologies, and sustainability initiatives. He pointed out that this issue is also in the spotlight at a time when the demand for the creation of data centers is increasing due to the widespread use of artificial intelligence in business.
The SOCAR president, noting that Azerbaijan is providing reliable natural gas supplies to Europe through the Southern Gas Corridor, drew attention to the important role our country plays in strengthening Europe's energy security.
Najaf highlighted that Azerbaijan has further strengthened its position as a regional energy center and an important gateway to the Caspian region, thanks to its strategic geographical location, developed infrastructure, and successful international cooperation experience formed over many years.
Speaking about the role of the development of regional connections in the formation of economic cooperation and long-term stability in the South Caucasus, Najaf drew attention to the important opportunities created by the TRIPP initiative in terms of promoting trade and increasing regional integration.
A number of panel discussions were organized at the event on cooperation opportunities in the energy, technology, and financial sectors. SOCAR Vice President Afgan Isayev spoke at the panel session on "Development of energy infrastructure and capital flows to the energy sector of the future".
Last month, the "Strategic Partnership Charter between the Government of Azerbaijan and the Government of the United States of America" was signed. In this regard, the U.S.-Azerbaijan Trade and Business Conference is also of great importance in terms of expanding business relations between companies of the two countries and identifying new investment opportunities.
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