Baku: A protocol on the 5th Azerbaijan-Trkiye Energy Forum has been signed between Azerbaijan and Trkiye, APA-Economics reports. The document was signed by Minister of Energy Parviz Shahbazov on behalf of Azerbaijan and Trkiye's Minister of Energy and Natural Resources Alparslan Bayraktar on behalf of Trkiye. The forum, held in Baku, focused on various sectors including hydrocarbons, petrochemicals, energy efficiency, and renewable energy, among others.

According to Azeri-Press News Agency, the forum's agenda included discussions on existing and prospective projects involving hydrocarbons, natural gas supplies, and gas infrastructure. The meeting also covered cooperation on digitalization, electricity market regulation, interconnector connections, and support for renewable energy, among other topics. The forum built upon previous meetings, with the first held in Baku in December 2021, and subsequent forums in Istanbul, Nakhchivan, and Izmir.

A meeting of six Working Groups was a key component of the forum in Baku, with reports presented by heads of the groups. Discussions extended to areas such as energy storage, smart meters, and the 'Carbon Border Adjustment Mechanism.' The forum identified potential collaboration on green energy exports and regulatory reforms in the gas sector.

Decisions were made to enhance cooperation in offshore wind energy and streamline investment and permitting procedures for renewable energy projects. The integration of renewable energy into the grid and the development of human resources were also prioritized. Moreover, the forum aimed to improve energy efficiency through activities like monitoring energy consumption, developing the ESCO market, and training energy managers. The initiative also seeks to enhance energy efficiency financing, support mechanisms, and digitalization processes.