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Nazrin Abdul

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Azerbaijan has discussed the prospects for cooperation in the energy sector with the French company TotalEnergies, Azernews reports that this was shared by Economy Minister Mikayil Jabbarov on his official X account.

He said that at the Davos Economic Forum, he and SOCAR President Rovshan Najaf met with TotalEnergies CEO Patrick Pouyanne.

"We exchanged views on green energy, decarbonization, the application of innovative technologies, energy storage systems, implemented projects, and prospects for cooperation," the post said.

It is significant to note that TotalEnergies has been present in Azerbaijan since 1996, where it owns a 35% stake in the Absheron gas and condensate field and holds a 5% stake in the Baku-Tbilisi-Ceyhan (BTC) pipeline. The Absheron gas and condensate field is located in the Caspian Sea 100 km southeast of the coast. It is operated by JOCAP (Joint Operating Company of Absheron Petroleum).

As regards the Davos 2025, Azerbaijan participated in the World Economic Forum this year. Having been invited to the event by the Chairman of the WEF Klaus Schwab, President Ilham Aliyev of Azerbaijan had meetings with representatives of major global companies such as Carlsberg Group, DP World, and Goldman Sachs. The Davos meeting once again demonstrated that Azerbaijan is one of the most reliable investment destinations. As is known, each of the abovementioned companies holds a significant position in the global economy, and in such an environment, the recognition of Azerbaijan as an important partner in the field of economy opens up wide opportunities for future relations.

Besides, climate challenges were a primary focus at this year's World Economic Forum, especially in light of recent extreme weather incidents. Given that Azerbaijan recently hosted an international climate conference - COP29, it is clear that the country's role in climate action is also significant. The talks, in which Azerbaijan participated, also discussed the financing of green energy and green technology.