Baku, 19 July 2022 (TDI): On Monday, the EU President, Ursula von der Leyen, and the Commissioner for Energy, Kadri Simson, held a meeting with the President of Azerbaijan, Ilham Aliyev, and Azero Energy Minister Parviz Shahbozov in Baku to discuss bilateral cooperation regarding energy cooperation.

The parties met to discuss how to enhance the existing relationships between the EU and Azerbaijan. Following this, the two presidents signed a new memorandum of Understanding on a Strategic Partnership in the field of Energy.

The EU and Azerbaijan are working towards a new comprehensive agreement. This new agreement will also facilitate enhanced cooperation in many different areas. These areas include economic diversification, investment, trade, and utilizing the potential of civil society while underlining the importance of human rights and the Rule of Law.

Furthermore, the two parties will meet in Brussels, Belgium, on 19 July. The meeting aims to assess the relations and to discuss the potential areas of mutual interest for cooperation going forward.

EU-Azerbaijan memorandum of Understanding

The EU and Azerbaijan want to enhance the development and deployment of renewable energy generation and transmission. Both parties are now referred to as Sides.

The sides both agree on the importance of continuous cooperation. This will ensure competitive markets for leveling up renewable energy generations.

The sides agree that energy efficiency is a key linchpin of policy efforts. These efforts are to enhance the security of supply. They are also to minimize the environmental effects of the energy sector and ensure a change to a net-zero economy.

The sides also acknowledge the importance of renewable hydrogen and other renewable gases as a solution to greenhouse gas emissions.

The sides are, therefore, to promote methane emission reductions.  They are also to support the creation of schemes. These schemes will collect natural gas instead of being vented or released into the atmosphere.

Also read: EU to strengthen cooperation with Azerbaijan

The European Commission will also work with the International methane Emissions Observatory (MEO). This will ensure a Methane Supply Index (Communication on the EU Methane Strategy).  This will guide potential buyers of natural gas on how to resolve the problems of methane emission.