Baku: Energy partnership has become more important than ever amid the war in Iran shaking global energy markets, President of the European Council Antonio Costa said in a press statement with President of the Republic of Azerbaijan Ilham Aliyev, APA reports. 'The European Union is ready to mobilize private investments and financial resources to support Azerbaijan's energy transition. At the same time, we encourage European clean technology companies to participate more actively in Azerbaijan's ambitious plans,' Antonio Costa noted.

According to Azeri-Press News Agency, the ongoing conflict in Iran has significantly impacted global energy dynamics, prompting the European Union to strengthen its energy ties with Azerbaijan. The EU aims to ensure a stable and secure energy supply for its member states amid the uncertainties in the region.

Antonio Costa emphasized the strategic importance of Azerbaijan as a key partner in diversifying the EU's energy sources. By investing in Azerbaijan's energy sector, the EU seeks to reduce its dependence on traditional energy markets that have been destabilized by the conflict in Iran.

The collaboration between the EU and Azerbaijan is expected to focus on both traditional energy resources and renewable energy projects. Costa highlighted the EU's commitment to supporting Azerbaijan's transition to cleaner energy, which aligns with the broader goals of reducing carbon emissions and promoting sustainable development.

This partnership is seen as a mutually beneficial endeavor, providing Azerbaijan with the necessary resources and expertise to enhance its energy infrastructure while helping the EU achieve its energy security and environmental objectives.