Azerbaijan, Turkiye Set To Enhance Energy Cooperation With New Agreement
Date
8/21/2024 1:06:26 AM
(MENAFN- AzerNews)
Ulviyya Shahin
Read more
In a significant development for regional energy markets,
Azerbaijan and Turkiye are poised to formalize an "Operation
Agreement" between the Nakhchivan State Energy Service and the
Turkish Electricity Transmission Corporation (TEIASH). This
upcoming agreement, reported by Azernews via the
Telegram channel of the Ministry of Economy of Azerbaijan, aims to
streamline and expand energy exchanges between the two nations.
The planned agreement marks a crucial step in deepening the
energy cooperation between Azerbaijan and Turkiye. The discussions
leading up to this agreement have addressed several technical and
operational aspects, including the transmission and distribution
substations on both sides of the border. Key considerations have
been the current condition of the power transmission lines, the
precise locations of the meters, and the application of relay
protection systems. This comprehensive approach is expected to
enhance the reliability and efficiency of energy flows between the
two countries.
The European Network of Transmission System Operators (ENTSO)
has granted approval for specific energy transmission parameters
under this agreement. ENTSO's endorsement allows for the export of
75 megawatts from Turkiye to Nakhchivan, with the Turkish side
operating in passive island mode. Conversely, Nakhchivan will be
permitted to import 40 megawatts while in passive island mode.
These stipulations are designed to ensure stable and balanced
energy exchanges, mitigating risks associated with grid imbalances
and operational disruptions.
The anticipated agreement holds several economic implications
for both Azerbaijan and Turkiye. For Azerbaijan, which has been
investing in its energy infrastructure and seeking to increase its
role in regional energy markets, this agreement represents a
significant boost. It not only diversifies its energy export
opportunities but also strengthens its position as a critical
player in regional energy security.
For Turkiye, the arrangement provides an opportunity to optimize
its energy exports and manage its grid more effectively. The
ability to export surplus energy to Nakhchivan can help Turkiye
balance its energy production with demand, potentially leading to
increased revenue from energy sales and enhanced grid
stability.
The agreement could also have broader implications for regional
energy cooperation. By solidifying the energy link between
Azerbaijan and Turkiye, it may encourage other neighboring
countries to explore similar collaborations. This could pave the
way for more integrated regional energy markets, fostering greater
energy security and economic stability across the area.
The forthcoming "Operation Agreement" between the Nakhchivan
State Energy Service and TEIASH is poised to enhance energy
cooperation between Azerbaijan and Turkiye significantly. With the
backing of ENTSO and a detailed operational framework, this
agreement promises to bolster energy security, optimize resource
use, and strengthen economic ties between the two nations. As the
finalization of the agreement approaches, stakeholders on both
sides will be keenly observing its potential to transform regional
energy dynamics.
MENAFN21082024000195011045ID1108582948
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.