Azerbaijan, Oman agree to expand energy partnership

BAKU. Dec 18 (Interfax) - Azerbaijan and Oman intend to step up energy cooperation in various areas, from conventional oil and gas to renewables, Azerbaijan's Energy Ministry said in a press release.

Agreements on this were reached at a meeting between Azerbaijan's Energy Minister Parviz Shahbazov and Oman's Economy Minister Said bin Mohammed bin Ahmed Al Saqri.

"Electricity, fiber-optic and hydrogen components of the Caspian-Black Sea-European Green Energy Corridor were discussed. There was also an exchange of views on the creation of data centers and their supply with electricity, promotion of investments in this area," the ministry said.

Sustainable investments in Oman's oil and gas sector were noted during the talks and it "was emphasized that this sector will remain important for both Oman and the world for a long time," the ministry said.

"During the meeting, it was agreed to define areas of cooperation within the framework of documents signed between the two countries in the oil and gas sector, as well as to assess opportunities for cooperation in the production of solar panels and wind turbines and across the entire energy sector," the press release said.

Oman is actively developing liquefied natural gas (LNG) production and plans to become one of the region's leading LNG exporters. At the same time, the country is accelerating its transition to renewable energy. It already has four large solar industrial parks and aims to meet 40% of its energy needs with renewable sources by 2040. Oman also plans to produce 1 million tonnes of green hydrogen by 2030, the ministry said.