Saudi Gazette report

RIYADH — Saudi Arabia and Azerbaijan have reaffirmed their commitment to strengthening their bilateral relationship, particularly in the energy sector, while working toward a sustainable and stable global energy transition.

During a meeting between Minister of Energy Prince Abdulaziz Bin Salman and Azerbaijani Minister of Energy Parviz Shahbazov, the two countries emphasized the importance of continuing cooperation within the OPEC Plus framework and other joint initiatives for supporting global oil market stability.

Both nations agreed on the need for balanced and inclusive climate action, aligned with the principles of equity and common but differentiated responsibilities.

They discussed their aspirations for successful outcomes at COP29, focusing on economic diversification and sustainable development.

The two countries highlighted the promising progress in renewable energy and Saudi investments in Azerbaijani wind power projects.

The joint statement also touched on collaboration in various energy sectors, including oil, gas, refined products, petrochemicals, and energy efficiency.

They emphasized the importance of joint investment opportunities and bilateral trade expansion.

Additionally, both sides highlighted their commitment to developing low-emission fuels and technologies and expressed satisfaction with the outcomes of their third Joint Technical Committee meeting.