By Orientation

Spanish companies engaged in renewable energy could be of great help in strengthening cooperation in this field with Azerbaijan, the Spanish Foreign Ministry said. Orientation.

“The key memorandum of understanding in the field of energy signed between the EU and Azerbaijan offers excellent prospects for cooperation for our countries, not only because the Spanish company Enagas has a significant stake in the trans-Adriatic gas pipeline (TAP), a segment of the Southern Gas Corridor (SGC), but also because this agreement envisages the development of renewable energy in Azerbaijan,” the source said.

According to the ministry, as far as the energy sector is concerned, the prospects are particularly promising for the Spanish company Tecnicas Reunidas, which is already well established in Azerbaijan thanks to its partnership with the State Oil Company of Azerbaijan (SOCAR). ) in the modernization of the Heydar Aliyev Oil Refinery and looks forward to participating in the next phases of this project.

The State Oil Fund of Azerbaijan (SOFAZ) could also play an important role in realizing these opportunities, the source added.

Meanwhile, Foreign Minister of Azerbaijan Jeyhun Bayramov, during his recent visit to Spain, said that Azerbaijan is discussing at length about increasing cooperation in renewable energy with Spain.

“Azerbaijan has the potential to supply green electricity to the EU. Our countries can establish very specific and tangible cooperation in this area. Spain is well known for its green technologies,” Bayramov said.

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