Azernews.Az

By Nigar Orujova

Baku will host a joint Azerbaijani-Norwegian energy forum in late October.

The forum will be part of several events to be hosted in Baku in the frame of the Days of Norway, to be held in October 28-30.

This decision was made at the meeting of Azerbaijani Industry and Energy Minister Natig Aliyev with Norwegian ambassador Erling Shensberg on October 1.

Aliyev and Shensberg praised the relations between the two countries and discussed a draft memorandum on energy cooperation to be signed between Azerbaijani Industry and Energy Ministry and Norwegian Ministry of Petroleum and Energy.

According to Shensberg, Norway is interested in deepening cooperation with Azerbaijan in energy sector. The Norwegian company Statoil has been making progress in Azerbaijan for 20 years. In addition, the countries achieved a many-sided cooperation in the management of the Petroleum Fund and the income from oil and gas.

Shensberg said there is considerable potential for further development of cooperation in the energy sector, in particular in the development of new oil and gas fields. In this regard, negotiations between Statoil and SOCAR are continuing.

The confidence was expressed at the meeting in the strengthening of cooperation in the framework of the relevant decisions taken in the field of transportation of Azerbaijani gas to Europe and the project TANAP.

The event also mulled the cooperation memorandum, prepared as a result of the official visit of Natig Aliyev to Oslo in April. A draft memorandum is currently being discussed at the level of experts of the two countries. Following discussions, it will be submitted for approval to the relevant agencies.

Azerbaijan and Norway have developed relationship since the beginning of 1990s, when diplomatic relations between the countries were established.

According to the Norwegian Embassy to Baku, cooperation between the countries is growing especially in the field of energy, and several Norwegian companies have established in Baku.

Statoil is by far the largest, as a partner in the giant oil field Azeri-Chirag-Gunashli, the gas and condensate field Shah Deniz, the Baku-Tiblisi-Ceyhan-oil pipeline and the South Caucasus Gas Pipeline, which makes Statoil the second biggest investor in Azerbaijan.