Shah Deniz Field; milestone for Iran-Azerbaijan successful energy ties

Iran's Petroleum Minister is in Azerbaijan to participate in Baku Energy Week and hold talks with officials attending the three-day international event.

The events are held on June 1-3, 2022, with the support of the Ministry of Energy of the Republic of Azerbaijan and the State Oil Company of the Republic of Azerbaijan (SOCAR). The Caspian Oil and Gas Exhibition is the first exhibition held since the independence of the Republic of Azerbaijan annually, in which over 250 companies around the world will take part.
During the meeting, both sides discussed and signed some MoUs in various areas, including the implementation framework for increasing gas swap, the integrated development of joint blocks and fields in the Caspian Sea, power exchange, and the areas of cooperation.
Meanwhile, Shahbazov said there are many commonalities between Iran and Azerbaijan, and appropriate cooperation had been created between the two countries in international organizations such as OPEC Plus.
World condition is indeed unstable, but it is now possible to help markets as what OPEC Plus has already done, he added.
"The presidents of the two countries are greatly determined to develop ties and this can help to facilitate relations," he noted.
The agreement to swap Turkmen gas to Azerbaijan was also a historic and valuable event, and the presence of the presidents in signing the deal has strengthened it, he said, adding: "I am grateful that Iran is ready and has the necessary infrastructure to increase gas swap volume."