Tuesday, 02 January 2024 12:17 GMT

Turkiye Eyes Expansion Of Energy Ties With Azerbaijan At Baku Energy Week


(MENAFN- AzerNews) By News Center

Turkish Minister of Energy and Natural Resources Alparslan Bayraktar participated in Baku Energy Week, where he underlined the growing strategic cooperation between Turkiye and Azerbaijan in the energy sector.

Speaking at the event, which opened with a keynote address by Azerbaijani President Ilham Aliyev, Bayraktar announced that Turkiye currently produces 9.5 million cubic meters of natural gas per day from the Sakarya Gas Field. He said the goal is to increase output to 20 million cubic meters by 2026 and reach 40 million cubic meters by 2028.

Highlighting the depth of the Turkiye-Azerbaijan energy partnership, Bayraktar noted that Turkish Petroleum (TPAO) will enhance its presence in Azerbaijan through a new agreement on the Şafak-Asiman Gas Field.“This cooperation is built on a shared history and mutual strategic interests,” he said.

Following the opening speeches, President Aliyev and Minister Bayraktar toured the Caspian Oil and Natural Gas Fair, including a stop at the Turkish Petroleum exhibit. Officials emphasized Turkiye's active involvement in major Caspian Sea energy projects, including the Azeri-Chirag-Guneshli and Shah Deniz gas fields.

Later, President Aliyev hosted Minister Bayraktar for a bilateral meeting, where the two discussed existing energy collaboration and potential new projects.

As part of Baku Energy Week, Turkish Petroleum, SOCAR (State Oil Company of Azerbaijan Republic), and BP are set to sign a partnership agreement on the Şafak-Asiman Natural Gas Field. Speaking to reporters, Bayraktar said,“Turkish Petroleum is entering the Şafak-Asiman field as a partner with a 30 percent stake. We will begin operations in cooperation with our longstanding partners, SOCAR and BP.”

Bayraktar also noted Turkish Petroleum's growing footprint in Azerbaijan.“We are exploring other opportunities, especially in the Caspian Sea. These initiatives will continue to expand,” he said.

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