Baku: A meeting was held between Azerbaijan’s Minister of Energy Parviz Shahbazov and the Sultanate of Oman’s Minister of Economy Said bin Mohammed bin Ahmed Al Saqri to discuss cooperation opportunities in the energy sector, the ministry informed APA-Economics.

According to Azeri-Press News Agency, the meeting highlighted Azerbaijan’s historical experience in oil production and its significant role in energy security as a natural gas supplier. The discussion also covered Azerbaijan’s projects in renewable energy production and export. Key components of the ‘Caspian-Black Sea-Europe Green Energy Corridor’, including electricity, fiber-optic, and hydrogen, were discussed. The talks also focused on establishing data centers and their electricity supply, as well as promoting investments in this sector.

Oman’s ongoing investments in the oil and gas sector were acknowledged during the discussions. It was noted that this sector will remain crucial for Oman and the global market. Oman is investing in liquefied natural gas (LNG) production with the goal of becoming a leading exporter in the region. Additionally, four large solar industrial parks are operational in Oman, aiming to source 40% of its energy from renewable sources by 2040. Oman also plans to produce 1 million tons of ‘green hydrogen’ by 2030.

The meeting concluded with an agreement to identify cooperation areas within the framework of documents signed between Azerbaijan and Oman in the oil and gas sector. Further, the production of solar panels and wind turbines, along with broader energy sector cooperation opportunities, will be assessed.