A new stage in the energy cooperation between Turkmenistan and Azerbaijan

A new stage in the energy cooperation between Turkmenistan and Azerbaijan

The Memorandum of Understanding between the governments of Turkmenistan and Azerbaijan on joint exploration and development of the Dostluk hydrocarbon field in the Caspian Sea, signed today in Ashgabat, is the result of many years of work carried out by our countries, President Gurbanguly Berdimuhamedov stressed.

Speaking via video link at the signing ceremony, the Turkmen leader said that this work is aimed at unlocking the huge potential of the two largest energy powers and creating favorable conditions for further development of sustainable energy in the Caspian Sea region.

The possibilities of this interaction were discussed in detail by the heads of the two states during Berdimuhamedov’s visit to Baku in March 2020. It was then that agreements were reached on joint work on one of the largest deposits of hydrocarbon resources in the Caspian.

The President of Turkmenistan called the common decision to call this field “Dostluk” deeply symbolic, since the name means “Friendship” in both Turkmen and Azeri.

These decisions will go down in the history of relations between our states as a vivid example of true good-neighborliness, responsibility, foresight and equality, Gurbanguly Berdimuhamedov said.

The signing of the Memorandum marks a fundamentally new stage in the energy cooperation of Turkmenistan and Azerbaijan in the Caspian, the head of state emphasized, noting that new opportunities are opening up for joint work on a solid international legal basis, additional incentives are being created for large foreign investments, the development of the national economies of the two countries.

President Gurbanguly Berdimuhamedov said that Turkmenistan and Azerbaijan share approaches on such a fundamentally important topic of the global agenda as energy security, vision of the configuration of international energy flows and, in general, the architecture of world energy.

The Caspian Sea is the most important area of ​​Turkmen-Azerbaijani cooperation. The significance of the Convention on the Legal Status of the Caspian Sea, signed in August 2018 and launching a new stage of cooperation in the Caspian Sea, including in the energy sector, was noted in this context.

The head of state also highlighted the transport sector as the most important area of ​​partnership. So, Turkmenistan and Azerbaijan, together with Afghanistan, Georgia and Turkey, are currently working on the effective functioning of the Lapis Lazuli Transport Corridor as a pathway between Asia and Europe. Turkmenistan and Azerbaijan are also among the initiators of the creation of the Caspian Sea – Black Sea transport system.

“Together we are embarking on a large, important and very promising project,” Gurbanguly Berdimuhamedov said. Addressing his colleague Ilham Aliyev, he expressed confidence that the joint work of Turkmenistan and Azerbaijan at the Dostluk field will be successful and effective.

The President of Turkmenistan also thanked the Azerbaijani leader for supporting this Memorandum and for his personal contribution to strengthening friendship, brotherhood and cooperation between the two countries and peoples.