Azerbaijan, Algeria to hold first meeting for energy working group in June

BAKU. April 25 (Interfax) - Azerbaijan and Algeria will hold the first meeting of a working group on energy cooperation between the two countries in June.

"The first meeting of the working group on energy will be held in June in Baku, as part of Baku Energy Week," Azerbaijan's Energy Ministry told Interfax.

The working group will discuss cooperation in the oil and gas sector, as well as on renewable energy and energy efficiency.

Azerbaijan and Algeria signed an intergovernmental memorandum of understanding on cooperation in the oil and gas sector on November 29, 2022. It calls for cooperation in the areas of onshore and offshore hydrocarbon exploration and production, development of hydrocarbon projects and the petrochemical industry, as well as marketing and transportation.

The memorandum also calls for the shipment of Azeri Light crude and other types of crude oil, the implementation of green energy projects and research on hydrogen transportation, and the organization and creation of regulatory and management enterprises in the oil and gas sector.

The provisions of the memorandum will be implemented by the joint working group.